1. BITBILIHome
  2. Article

Avalanche price analysis: AVAX price shows little change to bearish momentum

• 90 views

TL;DR Breakdown

. Avalanche price continues struggle below $15 mark
. Price finds new support at $13
. Technical indicators suggest for bearish trend to continue

Avalanche price analysis shows little change to the extended bearish run in place, as price slipped to $14.51 over the past 24 hours. The continued movement below the $15 mark has meant that AVAX is unable to attract buyer interest at current trend, and remains in a sideways deadlock. A new support mark at $13 has developed over the current trend, with price expected to test this support before the next upturn. Avalanche trading volume dropped another 30 percent over today’s trade, with the market cap figure also dropping to $10,531,810,650.

The larger cryptocurrency market showed minor signs of recovery from yesterday’s prices, led by Bitcoin’s move past the $27,000 mark, and Ethereum’s move above $1,800. Among leading Altcoins, Ripple moved up to $0.46, with Cardano slipping back to $0.36. Meanwhile, Dogecoin made a minor increment to settle at $0.07, and Polkadot reaching up to $5.41.

Avalanche price analysis: Bearish technical indicators dominate daily chart

On the 24-hour candlestick chart for Avalanche price analysis, price can be seen continuing to trend sideways in a horizontal pattern around the $14 mark. As AVAX price moved below previous support at $15, price also slipped further below its 9 and 21-day moving averages, along with the important figure of the 50-day exponential moving average (EMA) at $15.

AVAXUSDT 2023 05 20 22 50 33Avalanche price analysis: AVAX price shows little change to bearish momentum
Avalanche price analysis: 24-hour chart. Source: Trading View

The 24-hour relative strength index (RSI) can be seen trending further downwards into the oversold zone, showing a value of 34 which indicates low market valuation. The moving average convergence divergence (MACD) curve also shows a continued bearish divergence in place.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

文章来源于互联网:Avalanche price analysis: AVAX price shows little change to bearish momentum

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年5月22日 04:40
Next 2023年5月22日 07:30

Related articles

  • Bybit revolutionizes Copy Trading platform with advanced automated trading features

    TL;DR Breakdown Bybit, the world’s third most visited cryptocurrency exchange, has upgraded its Copy Trading platform with advanced automated trading capabilities. The integration of the derivatives terminal streamlines the trading process, making it easier for account Followers to copy trades. Over 18,000 Master Traders can now link their Bybit Subaccounts to third-party trading tools, enabling access to advanced features and maximizing trading potential. Description Bybit, the world’s third most visited crypto exchange, has announced a major upgrade to its Copy Trading product. This upgrade introduces advanced automated trading capabilities to the platform, revolutionizing how traders manage their portfolios. By integrating the main derivatives terminal into the Copy Trading platform, Bybit now provides users with a comprehensive suite of features … Read more Bybit, the world’s third most visited crypto exchange, has announced a major upgrade to its Copy Trading product. This upgrade introduces advanced automated trading capabilities to the platform, revolutionizing how traders manage their portfolios. By integrating the main derivatives terminal into the Copy Trading platform, Bybit now provides users with a comprehensive suite of features and third-party tools…

    Article 2023年7月5日

  • North Korea’s Lazarus Group suspected in $55 million CoinEx hack

    TL;DR Breakdown North Korea’s Lazarus Group is suspected to be behind the recent $55 million hack of cryptocurrency exchange CoinEx, according to blockchain security firm SlowMist and on-chain investigator ZachXBT. The hack has raised concerns about the vulnerabilities in the crypto ecosystem, adding to nearly $1 billion lost to cyber exploits since January 2023, as reported by cybersecurity firm CertiK. CoinEx has temporarily halted deposits and withdrawals and assured full compensation to affected users, highlighting the need for more robust security measures in the crypto industry. Description In a startling revelation, North Korea’s Lazarus Group is believed to be the mastermind behind the recent $55 million hack of cryptocurrency exchange CoinEx. The suspicion was confirmed by blockchain security firm SlowMist and on-chain investigator ZachXBT, who found a link between the CoinEx hack and a previous attack on betting platform Stake.com. Both attacks … Read more In a startling revelation, North Korea’s Lazarus Group is believed to be the mastermind behind the recent $55 million hack of cryptocurrency exchange CoinEx. The suspicion was confirmed by blockchain security firm SlowMist and on-chain…

    Article 2023年9月14日

  • On Fed’s interest rate strategy: What’s next?

    TL;DR Breakdown The Fed is expected to raise its key interest rate by 0.25 percentage points. There’s speculation whether this will end the 16-month monetary policy tightening. Fed’s hawkish official Christopher Waller suggests another potential rate increase if inflation persists. Description In a move that has financial analysts on the edge of their seats, the U.S. Federal Reserve, commonly referred to as the Fed, is projected to inch its baseline interest rate up by a quarter of a percent. This week, the financial world is waiting with bated breath to understand what this rate increase, the … Read more In a move that has financial analysts on the edge of their seats, the U.S. Federal Reserve, commonly referred to as the Fed, is projected to inch its baseline interest rate up by a quarter of a percent. This week, the financial world is waiting with bated breath to understand what this rate increase, the final phase of a 16-month long campaign to tighten monetary policy, signals for future fiscal decisions. The Fed’s future: Treading the tightrope The central bank of…

    Article 2023年7月24日

  • EU and US join forces for AI standards interim solution

    TL;DR Breakdown The European Union (EU) and the United States are joining forces to address the need for minimum AI standards as new comprehensive AI legislation is being developed. The EU’s forthcoming AI Act could be the world’s first comprehensive AI legislation, but it may take one to two years to be fully implemented. The fourth ministerial-level meeting of the Trade and Technology Council (TTC) will discuss generative AI algorithms and the need for regulatory oversight. In an unprecedented move towards global collaboration in the realm of artificial intelligence (AI), the European Union (EU) and the United States are jointly addressing the pressing need for an interim solution to AI standards. The call for an expeditious response comes as new legislation governing the use of AI is on the horizon but has yet to be formalized and enacted. Establishing AI standards: A global imperative Margrethe Vestager, the EU’s tech czar and Vice-President of the European Commission, stressed on the urgency to establish minimum standards to bridge the gap until the new laws take effect. The forthcoming AI Act from the…

    Article 2023年5月25日

  • Investor takes legal action against city council over $194 million lost Bitcoin

    TL;DR Breakdown James Howells, a former IT professional, is preparing to sue Newport City Council for denying him the right to excavate a landfill where a hard drive containing 7,500 bitcoins ($194 million) is believed to be buried. Howells’ legal team has set a deadline of September 18 for the council to grant excavation rights, and he is pushing for a judicial review of the council’s decision. He has also secured external investors and pledged to cover all costs. The case has been ongoing for a decade and has seen multiple failed negotiations between Howells and the council. Description A 38-year-old former IT professional, James Howells, is preparing for a legal battle against Newport City Council. The dispute revolves around a hard drive containing 7,500 bitcoins, valued at approximately $194 million, based on today’s exchange rate, which was accidentally discarded in a landfill in 2013. Howells has been in a decade-long disagreement with the … Read more A 38-year-old former IT professional, James Howells, is preparing for a legal battle against Newport City Council. The dispute revolves around a hard…

    Article 2023年9月11日
TOP