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April 17, 2023AVAX rallied to $20.96, hitting its highest point in 7 weeks. It later lost $0.25 and is now trading at $20.71.
Investors are seeking long positions as Avalanche price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Avalanche has just crossed its upper Bollinger Band® at $20.03, suggesting further gains could be on the cards. On the other hand, note that first developed in 1978, the relative strength index (RSI) is a momentum oscillator that measures both the speed and rate of change in price movements within a market — measured as a 0-100 index. In AVAX's case, the RSI has fallen below 30, indicating the asset is oversold.
Overall, looking at the technical analysis landscape, it seems Avalanche might continue pointing upwards in the short term.
Avalanche shows positive signs, other assets are also on par: having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.
At the same time, Dogecoin is down to $0.089, losing $0.001, after closing at $0.091 in the preceding trading session. Ripple is down to $0.514, losing $0.007, after closing at $0.521 in the preceding trading session.
11 months ago AVAX reached a significant high of $79.22 but has consequently lost 74.51% since then. AVAX is currently trading with a market cap of 6.76 billion with an average daily volume of 162.96 million.
