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April 05, 2023Tentatively higher from an earlier low of $17.64, Avalanche is up to $17.92 today, adding $0.288, or 1.63%, to today's closing price of $17.64.
As the trading day commences, technical analysis suggests Avalanche reversed direction at $17.77 resistance zone and retreated back 15 cents below it. Trend and momentum analysis indicates that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. AVAX formed a session range of $17.64 to $18.05 leaving buyers and sellers highly concentrated around an active Fibonacci resistance level of $17.7. According to asset volatility analysis, Avalanche's upper Bollinger Band® is at $18.04, this is a slight indication of a slowdown.
Notwithstanding AVAX's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
AVAX shows positive signs, other assets are also on par: FTX Token leaps up 9.54% to trade around $1.36. Ethereum moves up 2.28% to trade around $1,912.55. Bitcoin is up 1.5%.
AVAX is trading 80.41% lower compared to the $90 high it reached over the past year. AVAX is currently trading with a market cap of 5.84 billion with an average daily volume of 184.93 million.
