Avalanche price analysis: AVAX nears $100, marking a record high at $98
- Avalanche price analysis is bullish today.
- Price has heightened up to an all-time high level of $98.
- Support is present at $91.
The Avalanche price analysis shows the cryptocurrency is trading at a record high upwards of $98. After marking an all-time high on 13th November at $97.7, the AVAX/USD corrected yesterday, and bulls have gathered enough strength for a further move higher today as they have surpassed the previous ATH level today. The next resistance that AVAX may face will be at $103.4, according to technical calculations.
AVAX/USD 1-day price chart: AVAX nears $100 as bulls try to secure another record high
The 1-day Avalanche price analysis shows that the coin is rallying high after correcting yesterday, as bullish momentum continues. The AVAX/USD is trading hands at $98.49 at the time of writing, nearing the $100 psychological mark. AVAX/USD shows an increase in price value by 3.23 percent over the last 24 hours and about an increase in value by 8.8 percent over the course of the last seven days. The trading volume has also increased by 6.9 percent, resulting in market dominance of 0.76 percent.
The volatility for the crypto pair is also increasing as the coin trades at a higher price envelope. The Bollinger bands are expanding, covering quite an area, with the upper band at the $103 mark representing the next possible resistance area for the AVAX, and the lower band at the $54 mark, the average of the Bollinger bands at the $78.7 mark represents support for the coin.
The relative strength index (RSI) has almost entered the overbought region as it trades at index 70.44, just above the borderline of the neutral zone. The RSI curve is not steep but is slightly upwards, indicating an overall presence of bullish elements and buying activity in the market. The moving average (MA) is present below the price level at the $90.7 mark.
Avalanche price analysis: Recent developments and further technical indications
The 4-hour Avalanche price analysis shows that the Coin went as high as $95.5 during the first 4-hours today but has corrected again as now the AVAX is trading at $98.4, as the selling pressure build-up.
The volatility on the 4-hour chart is also high, with the upper Bollinger band at the $102.3 mark representing resistance and the lower band at the $80 mark, forming an average at the $91 mark representing support for the AVAX/USD pair. The RSI shows a downwards slope on the 4-hour chart as it trades at index 63.99, indicating the current selling activity. The moving average is below the level at the $96 mark.
Avalanche price analysis conclusion
The Avalanche price analysis concludes that the cryptocurrency is highly bullish, and the bullish momentum is quite aggressive as the short-term, and the mid-term technical indications are suggesting. The current selling pressure, as indicated by the 4-hour chart, seems to be reversing soon, and the coin may continue upside today. There are ample chances for the coin to cap at a record high price today. Even breaking above the $100 psychological mark is also possible today.
Disclaimer. The information provided is not trading advice.
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