1. BITBILIHome
  2. Article

Avalanche price analysis: AVAX continues to trend bearishly at $14

• 138 views

TL;DR Breakdown

. Avalanche price stuck at $14 support
. Next resistance point comes down to $15.5
. Price lowered to $13.85 today

Avalanche price analysis shows a continued downtrend in place for the cryptocurrency, with price lowering down to $13.85 over the past 24 hours. AVAX price has been stuck around the $14 support largely since the decline from $16.48 on May 8, its highest price in a month. With the persistent downtrend in place, AVAX resistance has come down to $15.5 with current level of price at $14.10. Avalanche trading volume dropped off further over the past 24 hours by around 10 percent, while market cap sits at $10,173,639,679.

The larger cryptocurrency market shows minor declines taking place across major cryptos over the past 24 hours. Bitcoin dropped 1 percent to move below the $27,000 mark, while Ethereum stays put at $1,800. Meanwhile, among leading Altcoins, Ripple dropped 1 percent to $0.50, and Cardano 3 percent to $0.36. Furthermore, Dogecoin price remains at $0.07, whereas Polkadot suffered a 2 percent decline to move down to $5.2.

Screenshot 2023 06 01 at 11.51.11 PMAvalanche price analysis: AVAX continues to trend bearishly at
Avalanche price analysis: Cryptocurrency heat map. Source: Coin360

Avalanche price analysis: Latest downtrend tests support on daily chart

On the 24-hour candlestick chart for Avalanche price analysis, price can be seen largely trending sideways around the $14 mark since May 9. In this month, AVAX has persistently shown bearish returns, resulting in significantly low market interest at current levels. The latest downtrend over the past 24 hours breached the $14 support, and could test it further. Current price moved below the 9 and 21-day moving averages, as well as the 50-day exponential moving average (EMA) at $14.43 over today’s trade.

AVAXUSDT 2023 06 01 23 55 19Avalanche price analysis: AVAX continues to trend bearishly at
Avalanche price analysis: 24-hour chart. Source: Trading View

The 24-hour relative strength index (RSI) can also be seen taking a hit after initially moving into the 50’s. Current RSI shows low market valuation for AVAX at 37.57. Meanwhile, the moving average convergence divergence (MACD) curve also looks to be showing a bearish divergence, with the trend line close to lowering down the signal line for Avalanche price analysis.

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 continues to trend bearishly at $14

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6月6日 06:47
Next 2023年6月6日 08:08

Related articles

  • U.S. banks resist as regulators plan global capital increases

    TL;DR Breakdown U.S. banks resist Federal Reserve’s proposal to raise bank capital requirements, citing overestimated risk and economic uncertainty. The proposal particularly targets non-interest income, affecting banks like American Express and Morgan Stanley that rely heavily on such revenue. Description In a contentious regulatory climate, leading U.S. banking institutions are rallying against a stringent financial reform measure that seeks to raise capital prerequisites. This initiative, led by the Federal Reserve, has been met with increasing trepidation from lenders, many of whom are still grappling with the aftermath of the banking turbulence in March. Concerns over … Read more In a contentious regulatory climate, leading U.S. banking institutions are rallying against a stringent financial reform measure that seeks to raise capital prerequisites. This initiative, led by the Federal Reserve, has been met with increasing trepidation from lenders, many of whom are still grappling with the aftermath of the banking turbulence in March. Concerns over non-interest revenue The primary cause of concern for the banking sector emanates from the proposed imposition of elevated capital charges on non-interest revenue streams. This encompasses various…

    Article 2023年6月25日

  • DBA Crypto Struggles to Launch as Fundraising Falls Short

    TL;DR Breakdown DBA Crypto faces challenges as it struggles to launch due to reduced fundraising and key team members departing. Despite obstacles, DBA remains determined to identify promising crypto ventures while managing risks. DBA Crypto, a highly anticipated cryptocurrency fund launch of 2022, is still facing challenges in getting off the ground, according to recent filings with the Securities and Exchange Commission (SEC) and insider sources. The investment startup, which targeted raising a minimum of $500 million from external investors, had planned to launch in late 2022 or early 2023. However, three key members of the team have since left the company to pursue other crypto ventures. DBA Slashes Fundraising Target to $150 Million Sources familiar with the matter previously revealed that the firm had engaged in advanced discussions with potential anchor investors, including established crypto investment managers. Unfortunately, those plans did not materialize as expected. The New York-based startup had to significantly reduce its fundraising target from $500 million to $150 million, according to SEC filings. The funds are now divided between an onshore and an offshore version of…

    Article 2023年6月19日

  • Brazil’s largest crypto exchange, Mercado Bitcoin, receives central bank approval as a payment institution

    TL;DR Breakdown Brazil’s largest crypto exchange, Mercado Bitcoin, has obtained a payment institution license from the country’s central bank, allowing it to operate as an electronic money issuer and expand its services. The exchange plans to launch MB Pay, a fintech solution providing digital banking services to Brazilian users, leveraging their crypto assets held on the platform. The approval signifies the growing interest in Brazil’s crypto market, attracting global players like Binance and Coinbase, and highlighting the country’s enthusiasm for digital assets and innovative financial solutions. Mercado Bitcoin, the leading cryptocurrency exchange in Brazil, has secured a payment institution license from the country’s central bank, allowing the company to expand its services and enhance its customer experience. With the new license in place, Mercado Bitcoin plans to launch its fintech solution, MB Pay, offering a range of digital banking services and introducing a crypto payments card in the near future. Central bank approval fuels business expansion According to reports, Mercado Bitcoin obtained its payment provider license from the Central Bank of Brazil on June 2. This approval marks a significant…

    Article 2023年6月8日

  • Is the crypto industry run by a cartel? Meet Blur’s second co-founder

    TL;DR Breakdown Since the onset of Blur, the NFT marketplace that gave OpenSea a run for its money, the protocol has been under a series of controversial questions- here are the answers. Evidence points to Blur being owned and sponsored by Amber Group, the crypto’s version of Vanguard with headquarters in Hong Kong. Is crypto truly decentralized, or has a cartel taken over the workings of digital assets? Description Are you still keeping up with Blur – the NFT marketplace that overthrew OpenSea? Well, here’s a new twist if you haven’t been paying attention. Blur could be run by the top VCs in the crypto space. What does that mean for regular crypto investors? Were they conned into the “next big project” once again? … Read more Are you still keeping up with Blur – the NFT marketplace that overthrew OpenSea? Well, here’s a new twist if you haven’t been paying attention. Blur could be run by the top VCs in the crypto space. What does that mean for regular crypto investors? Were they conned into the “next big project”…

    Article 2023年8月30日

  • Investors caught in the middle of Biden’s tech restrictions

    TL;DR Breakdown Biden’s restrictions have made U.S. investors cautious about tech investments in China. Investments in China’s tech sector have plummeted this year. The U.S. is focusing on protecting national security and may tighten measures. Description The financial arena has been sent into a whirlwind as President Joe Biden clamps down on U.S. technological investments into China. Investors, once enthusiastic about the tech-rich, booming Chinese market, now find themselves skidding on a slippery slope, deliberating their next moves amidst burgeoning geopolitical tensions. A chilled investment atmosphere When the Biden administration unveiled … Read more The financial arena has been sent into a whirlwind as President Joe Biden clamps down on U.S. technological investments into China. Investors, once enthusiastic about the tech-rich, booming Chinese market, now find themselves skidding on a slippery slope, deliberating their next moves amidst burgeoning geopolitical tensions. A chilled investment atmosphere When the Biden administration unveiled its latest restrictions, it was evident that the days of free and open tech investments between the U.S. and China might be numbered. Investors, who had already been treading cautiously since…

    Article 2023年8月11日
TOP