- Avalanche is currently in a short-term downtrend channel. Downtrends indicate negative developments in the market and diminishing buying interest among investors.
- In the event of a positive response, the cryptocurrency’s resistance is at $11.30. The RSI is below 30 after weeks of declining prices.
- Today’s Avalanche price is $8.91 USD, with a 24-hour trading volume of $83,757,772 USD. Avalanche has dropped by 77% in the last 24 hours.
In our AVAX analysis, we evaluate the short, medium, and long-term outlook for Avalanche: Short, Medium, and Long-Term AVAX Analysis!
Short-Term AVAX Analysis
Avalanche is currently in a short-term downtrend channel. Downtrends indicate negative developments in the market and diminishing buying interest among investors. There is no support on the price chart, signaling further downside potential. In the event of a positive response, the cryptocurrency’s resistance is at $10.00. The RSI is below 30, indicating strong negative momentum in the short term. Investors have been selling the asset to lower prices steadily, indicating increased pessimism and ongoing price declines. However, especially in major assets, a low RSI could be a sign of overselling and the potential for an upward rebound. The cryptocurrency is generally evaluated as technically negative in the short term.
Medium-Term AVAX Analysis
Investors have been willing to accept lower prices over time, and the cryptocurrency is in a medium-term downtrend channel. Downtrends indicate negative developments in the market and diminishing buying interest among investors. There is no support on the price chart, signaling further downside potential. In the event of a positive response, the cryptocurrency’s resistance is at $11.30. The RSI is below 30 after weeks of declining prices. The cryptocurrency is experiencing strong negative momentum, signaling further declines. However, especially in major assets, a low RSI could be a sign of overselling and the potential for an upward rebound. The cryptocurrency is generally evaluated as technically negative in the medium term.
Long-Term AVAX Analysis
Avalanche is in a long-term downtrend channel. This indicates that investors have been selling the cryptocurrency at lower prices over time, signaling negative developments for the asset. The cryptocurrency has broken support at $10.60, further predicting more downside potential. Volume matches well with price peaks and troughs, which could weaken the downtrend and serve as an early signal of a trend reversal. The cryptocurrency is generally evaluated as technically negative in the long term.
AVAX Price
Today’s Avalanche price is $8.91 USD, with a 24-hour trading volume of $83,757,772 USD. Avalanche has dropped by 77% in the last 24 hours. It currently ranks 23rd with a live market capitalization of $3,153,400,791 USD. There are 354,051,224 AVAX coins in circulation, with a maximum supply of 720,000,000 AVAX coins.
Summary
The AVAX analysis evaluates the short, medium, and long-term outlook for Avalanche. Short-term analysis indicates that the cryptocurrency is technically negative. Medium-term analysis similarly shows the cryptocurrency as technically negative, and long-term analysis confirms the cryptocurrency’s negative technical evaluation. However, investors should assess risks, especially considering indicators like RSI.
