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June 12, 2023
Without a clear-cut direction, AVAX is trading around $11.5 and ranging between $11.31 and $11.57.
With regards to technical trend indicators, chart analysis show that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Momentum evaluation shows that the Relative Strength Index indicates AVAX is in an oversold condition, which could precipitate a reversal and set up a new bullish phase. According to asset volatility analysis, AVAX's upper Bollinger Band® is at $16 and the lower is $11.58. Technical chart analysis shows AVAX bounced after reaching the $11.42 support zone, climbing 9 cents above it.
Overall, technical indicators suggest Avalanche has no obvious direction for the immediate future.
Other markets show mixed performance as FTX Token gained 9.54% and is currently trading at $1.36. Cardano is up 4%. Cosmos USD is up 2.49% to $8.65.
9 months ago Avalanche reached a significant high of $29.36 but has consequently lost 60.59% since then. AVAX is currently trading with a market cap of 3.97 billion with an average daily volume of 146.52 million.
