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April 10, 2023
AVAX is now trading at $17.61 after tracing out a steady $17.46 – $17.63 range today.
Trend and momentum analysis indicates that Avalanche made an initial breakout above its 10 day Simple Moving Average at $17.63, a potential indicator of a newly emerging bullish phase. Asset volatility analysis shows that AVAX's upper Bollinger Band® is at $18.17, suggesting that a downward move may follow. Technical chart analysis shows Avalanche is approaching key support, around 27 cents away from $17.34. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Overall, technical indicators suggest AVAX has no obvious direction for the immediate future.
Meanwhile, mixed performances are seen elsewhere as FTX Token is up 9.54% to $1.36. UNICORN Token USD gained 1.62% and is currently trading at $6.47.
AVAX is trading 78.76% lower compared to the $82.55 high it reached over the past year. AVAX is currently trading with a market cap of 5.74 billion with an average daily volume of 164.93 million.
