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AVAXUSD trade ideas

AVAX asset price risesThe Avalanche cryptocurrency has experienced a 7.10% increase in the last 24 hours, trading at $33.81 at press time. The technical indicators are bearish, but there are minor bullish signs appearing in the MACD as it has converged for a bullish cross and the RSI at 44.18. Therefore, despite the bearish indicators, the situation could also turn to the upside. If demand for the AVAX asset price rises, it could bounce back from the current level. The next price targets could be $40.0 and $50.0. However, if the AVAX crypto price fails to stay above the $30.0 level, it could decline further.
COINBASE:AVAXUSDLong
by Sam_TCR
Avalanche Technical Tools And Performance AnalysisAVAX, the cryptocurrency of Avalanche, is facing resistance at $35 and has shown resilience despite market turbulence. It has declined by 6.18% in the past 24 hours and has a market capitalization of about $12.58 billion, placing it at the 12th position among cryptocurrencies. This decline in market capitalization indicates a decrease in interest in Avalanche, although the broader market has also been challenging. Avalanche Crypto Daily Chart Overview On the daily chart, Avalanche's price structure shows a battle between the bulls and the bears. During the first week of November 2023, the bulls had the upper hand and drove the price up from the demand zone at $11.0 to $65.0 by March 18th, breaking through resistance levels at $27.0 and $50.0 along the way. However, after reaching the top supply zone, Avalanche's price began to deteriorate, plummeting from a crucial level of around $65.0 on March 20th, 2024. Following the declining wedge, the AVAX crypto suffered a significant plunge after touching the resistance supply level and fell to lower levels. Avalanche Technical Tools And Performance Analysis Despite a significant decline, the AVAX asset still shows bearishness and falling capacity as it slides below the considerable trend in the 20-day and 50-day EMA bands. If sellers continue to surge, the drastic decline could extend even more. MACD is below the zero line in a bearish domain, and the RSI is falling steadily at 36.17, indicating that the AVAX asset is not gaining steam and can continue to drop lower. The AVAX asset reveals bearish signs and may sink even lower, with negative price performance recorded in the previous week and month at -14.64% and -36.81%, respectively, indicating a steady downward trend. AVAX Price Levels to Watch Breaking above the resistance level of $35.50 could potentially pave the way for AVAX to reach higher resistance around $40.00. On the other hand, if the token falls below the support level of $30.00, it may face pressure to drop even further to the lower level of $25.00, which introduces risks of additional declines. Traders need to monitor the key resistance and support levels since a breakout or breakdown could influence the short-term market direction, defining the potential movement boundaries for Avalanche.
COINBASE:AVAXUSDShort
by Sam_TCR
1
The price of Avalanche appears to be decreasing latelyThe price of Avalanche cryptocurrency has been increasing, since October 2023 and it has seen a significant rise from $9.0 to $65.0 by March 18th, 2024. Avalanche has had a very positive six-month and three-month period, with gains of 316.03% and 4.58% respectively. However, in the last week and month, there has been a decline in the price by -15.84% and -30.41% respectively, indicating a strong downtrend. However, Avalanche crypto has revealed a massive slump in price in the last couple of sessions and the price shows struggling signs of bulls and bearish dominance is extremely high. Contingent on seller's pressure, the massive drop could shatter more support and could target $35.0 and $28.0 support on the daily chart. The price of Avalanche appears to be decreasing lately, following a sharp bearish pattern, as it broke below both the 20-day and 50-day EMAs' dynamic supports. This suggests that, based on the extent of selling pressure, there is a substantial likelihood of experiencing further drops. Furthermore, the Avalanche crypto asset could accelerate this ongoing bearish trend, if the price slips more of its ground support, and coincidingly the MACD has started to decline abruptly from the zero line which is at -2.15 and has cut the signal line sharply from above. Meanwhile, the RSI is at 32.70 and has moved lower after beating the 14-SMA from above like a falling knife, a push from the bear side could accelerate more deterioration. AVAX Price Forecast At the time of publishing, the Avalanche crypto is at $38.63 and shows an intraday decline of -1.83%. Therefore, if the Avalanche crypto fails to maintain the $35.0 price level, the price could show a spectacular drop. However, if the price manages to show a resurgence, the price could break out coin the upside and reach $50.0, and $55.0.
COINBASE:AVAXUSDShort
by Sam_TCR
Avalanche Price Forecast: Can AVAX Make Comeback And Shine AgainThe Avalanche price made a breakdown below the 20 day EMA suggesting weakness. The AVAX crypto was trading close to $47.39 reporting a positive intraday development of 4.59%. The Avalanche price jumped nearly 4.59% in Intraday and is recovering losses on Saturday. The bulls are attempting to regain control over the trend and reclaim their dominance above the 50 day exponential moving average. The recent sessions saw a sudden fall due to profit taking as the price loomed downwards after a consolidation near the highs. The selling pressure received was backed by momentum due to which the 50 day EMA could not hold the price and a breakdown was noted on the charts. However, the bulls seem to be aggressive in Intraday and have recovered nearly 4.59% and may reestablish themselves above the 50 day EMA if the momentum continues. The long term trend outlook is still bullish due to which it may attract the short term traders and investors at a discounted price. Now, the Avalanche crypto may resume on the higher side again if the price bottoms out near the 50 day EMA. The buyers need to establish their presence at the lower levels to prevent the further fall and reverse its course. Avalanche Crypto Development Activity Insights The developer activity and developer activity count suggest the updates and changes undergoing in the AVAX crypto. The developers activity curve displayed the formation of a positive trajectory in February and March month suggesting a healthy development in the crypto. The developers activity contributors count was 22 by the end of February. However, the developers count decreased in March month and dropped back to a count of 11. The 50% drop in the developers count slowed the development activity and a bearish curve was observed in the last month. Open Interest Contracts Noted a Significant Profit booking. As per Open interest vs AVAX price chart, the Open Interest contracts were 222.56 Million USD in the 1st week of February. The OI data saw a continuous growth in February and March. The number of open contracts reached 540.2 Million USD in the third week of March. The Avalanche crypto price also went parallely and experienced a growth of nearly 80%. However, there has been a significant drop in the number of OI contracts in the last couple of weeks. Correspondingly, the AVAX price has noted a decline of nearly 20% in the period. AVAX Crypto Sentiments Analysis As per the santiment website, the negative sentiment was dominating till the January end. However, the weighted sentiment jumped over the zero line and turned positive in February. The AVAX price noted significant growth in the period. The weighted sentiment curve dropped in the last couple of weeks and has fallen back towards the zero line. The overall sentiment has turned neutral as per the sentiment data. Avalanche Price Prediction April 2024. The Avalanche price prediction for April 2024 shows that the crypto may advance to a high of $70.8 if buyers are able to surpass the hurdle of $61.20 on the higher side. Whereas, the less optimistic analysts estimate a price target of $38.9 on the lower side after the breakdown below $44.47. Conclusion. The AVAX crypto has initiated a recovery after registering a fall of over 20% in the last couple of weeks. The price is up nearly 4.59% in Intraday and might show more gains by the session end. The bulls are attempting to reclaim their dominance above the 50 day EMA in order to keep the trend in their favor. The long term trend outlook is still bullish above the 200 day EMA and might attract more buyers at a discounted price. Now, the bulls establish themselves near the 50 day EMA, then the upside trend may resume again. Technical levels: Support levels: $44.47 and $38.90. Resistance levels: $61.20 and $70.08. Disclaimer The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
CRYPTO:AVAXUSDLong
by Ritika_TCR
price action shows that the price is trying hard to sustainThe Avalanche price shows that the price rose from $10 and hit the previous supply at the $50 price mark by last week December 2024. The price thereafter lipped some points and formed a new support of $27 by the last week of January in the new year 2024. However, the crypto showed a fabulous resurgence on this level, which took the price all the way up to $65 by jumping over the previous supply level. The recent price action shows that the price is trying hard to sustain above the previous supply of $50 price level on the chart, which shows possible signs of accumulation of buying interest over the daily chart for more futuristic growth in the coming sessions. The Avalanche asset is also exhibiting bullish potential, as the price is above the dynamic supports of 20-day and 50-day EMA bands, MACD is above the zero line at 3.31, and RSI is above the 50, these circumstances highlight that AVAX price is in the bullish zone and has not lost the steam yet, and could possibly jump more from the current price level support. Therefore, if the price manages to successfully hold on to its current price level support, the next target could be $70, and beyond that will open a gate for new opportunities to come in the price levels. But on the different side, there is a negative possibility, that if the price decreases beneath the previous supply, that is $50 price mark, a downtrend can begin, which will start to consume its earned gains over the daily chart.
COINBASE:AVAXUSDLong
by Sam_TCR
[AVAX] in a strong Demand zone..👀 Bullish move incoming?..💎Support Zone: AVAX has reached a significant support zone, where buying pressure has historically been strong. This zone provides a foundation for potential price recovery. 💎Positive Market Sentiment: The overall market sentiment towards AVAX is positive, with growing interest and demand from investors. This positive sentiment can contribute to a potential upward movement in price. 💎Fundamentals: AVAX has a strong underlying technology and ecosystem, which can attract investors and contribute to its potential recovery. Additionally, any positive developments or partnerships can further enhance its prospects.
BITSTAMP:AVAXUSDLong
by MyCryptoParadise_Simon