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April 14, 2023
AVAX trades at $19.13 after gaining $0.273 (1.45%).
With regards to technical trend indicators, chart analysis show that investors are seeking long positions as Avalanche price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. According to asset volatility analysis, Bollinger Band® analysis indicates that current price action is approaching the upper band at $19.09, thereby suggesting that AVAX is becoming overvalued. Support/Resistance levels obtained from chart analysis indicate that AVAX is 7 cents away from testing key resistance at $19.2. Peaking above this level could inspire market bulls and open the path to further gains.
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 is up 9.54%. Having closed the previous session at $2,012.61, Ethereum is up 5.08% today to currently trade at around $2,114.77. Ripple is up 3.89%.
Avalanche has fallen back around 76.2% from the significant high of $79.22 set 11 months ago. AVAX is currently trading with a market cap of 6.24 billion with an average daily volume of 142.97 million.
