AVAX In focus: technical signals point to bearish outlook

2024-4-19 17:51

The cryptocurrency market at the moment is undergoing a global bearish mood. Avalanche (AVAX) is one of the coins that suffered a decline after seeing a surge because of this downward trend. 

AVAX shows an equal decrease in its value on the market which is generally caused due to depressed atmosphere and negative global trends.

At the moment, AVAX is worth approximately $35. Nevertheless, there is a minor upward movement contrasted with the 25% decrease during the last week which serves as an indicator of the prevailing bearish trend. 

The latest AVAX prices have been under scrutiny due to the key role played by the technical indicators in determining its future trends.

Technical indicators and market analysis

A highly technical pattern on the AVAX trading chart is a Death Cross formation where the 50-day Exponential Moving Average (EMA) has come below the 200-day EMA on the 4-hour price chart. 

This playbook pattern is mainly treated as a bad sign by the investors and hence there is a chance of the price going even lower.

Despite this warning signal of a Death Cross, some technical indicators point to some mixed outlook for AVAX’s future. 

The Relative Strength Index (RSI) is inclined upwards with a rating of 49, implying the gradual weakening of the bear’s dominance. 

In the derivatives market, the price of AVAX has been volatile as the activities in futures trading have momentous influence, especially the noticeable ones of long liquidations in the recent one. 

In that case, fundamentally such a speculative nature of trading plays a vital role in the AVAX market which is responsible for this general gloomy feeling in the market.

Market outlook and sentiment analysis

Looking forward, AVAX is seeing a range of support and resistance levels that can either give a hint about its future trend development or even reverse its entire movement. 

Falling below the support of $39 may cause the price to move downward to a lower level of $28. Otherwise, if this support zone is not overshot we could expect a reverse correction toward the resistance level of $50.

With the ongoing selling pressure, technical analysts see an opportunity for a price trend reversal and possibly a rally if broader market conditions recover. 

But, the sentiment overall is slightly optimistic looking at the flip side, a fall in smart contract activity on the Avalanche platform and a possible slowdown in developmental initiatives soon.

It is difficult to accurately predict the AVAX price in the current market turmoil, but investors are keeping an eye on key support and resistance levels for potential future price movements. 

Final wrap

In summary, at the moment, the AVAX outlook seems to be bearish but some analysts are cautiously optimistic that a comeback is to be expected soon. 

The interaction between technical indicators, market dynamics, and investor attitude is what will establish the price direction of AVAX that will subsequently determine the future of the cryptocurrency.

The post AVAX In focus: technical signals point to bearish outlook appeared first on Invezz

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Market.space (MASP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 MASP

avax market global bearish 160 trend value

avax market → Результатов: 126


Фото:

NuggetRush presale gaining more attention than anticipated: Is this as a result of disappointment on AVAX & Chainlink?

Three key players have recently made headlines for their remarkable journeys and market movements within the cryptocurrency industry. Let’s explore NuggetRush (NUGX), a pioneering NFT crypto with a vision, Avalanche (AVAX), a contender experiencing both soaring highs and sharp descents, and Chainlink (LINK), a stalwart facing challenges in a volatile market. Here is why NuggetRush […]

2024-4-19 03:00


Avalanche (AVAX) & Ethereum (ETH) Holders Rush to Kelexo (KLXO) Presale Stage 2 Nearing Capacity with 20X Gains Forecasted for Easter

While looking at the current market for crypto investments, global investors are rushing into Kelexo (KLXO) Presale Stage 2 with strong expectations for 20X returns. Before we get into the Kelexo (KLXO) presale details, let’s look at the current happenings in Avalanche (AVAX) and Ethereum (ETH).

2024-4-2 00:00


Top Crypto Coins 2024: AVAX Investors Turns from MATIC Liquid Staking to BlockDAG Presale for Potential 10,000 ROI

During a market downturn, Avalanche investors are turning their focus towards promising ventures like Borroe Finance, seeking resilient alternatives with substantial ROI potential like BlockDAG. Concurrently, the launch of a Polygon liquid staking fund by Laser Digital is attracting institutional investors, offering an innovative path to accessing MATIC rewards with […]

2024-3-31 01:00


Avalanche (AVAX) & Chainlink (LINK) Investors Buzz Over Kelexo (KLXO) Ambitions to Eclipse Aave (AAVE) in Lending

Many things are going on in the current market and many predictions. Some of them hold weight and are based on data while others are speculation. We make a difference in our analysis. This article provides analysis relevant to a new token, Kelexo (KLXO) which is gaining much attention from Avalanche (AVAX) and Chainlink (LINK) […] The post Avalanche (AVAX) & Chainlink (LINK) Investors Buzz Over Kelexo (KLXO) Ambitions to Eclipse Aave (AAVE) in Lending appeared first on CaptainAltcoin.

2024-3-29 19:40


SOL, AVAX AI tokens and other cryptos star in analyst picks as InQubeta capitalizes on trend With $12M raise

The crypto market is going through a harsh pre-halving correction, with most major altcoins down over 10% in the last 24 hours while Bitcoin and Ether are down 7% and 6% respectively. However, "corThe post SOL, AVAX AI tokens and other cryptos star in analyst picks as InQubeta capitalizes on trend With $12M raise appeared first on AMBCrypto.

2024-3-19 17:00


Фото:

Here’s why Toncoin (TON) and Avalanche (AVAX) prices are pumping! While this new AI crypto prepares to smash $12 Million in presale

With Bitcoin soaring above $73,000 and repeatedly breaking its all-time high in recent weeks, the overall sentiment in the cryptocurrency market is undeniably positive. Two altcoins, Toncoin (TON) and Avalanche (AVAX), have provided decent gains for their holders, reflecting the market’s bullish momentum.

2024-3-15 17:00


Global Surge in Raffle Coin (RAFF) Presale: Avalanche (AVAX) & Polkadot (DOT) Bulls Predict an Explosive 35X Growth

As the global cryptocurrency market experiences a surge in interest and investment, the spotlight shines on Raffle Coin (RAFF) and its presale. Amidst this, established cryptocurrencies like Avalanche (AVAX) and Polkadot (DOT) have demonstrated remarkable growth trajectories, with traders and investors predicting explosive 35X growth for Raffle Coin (RAFF).

2024-3-13 01:00


As Bitcoin (BTC) Charges On, This AVAX Metric May Signal Price Dips for Altcoins – But There’s a Catch

Cryptocurrency analyst Altcoin Sherpa warned regarding the potential for heavy capitulation across the altcoin market if key support levels fail.  AVAX Chart Signals Broad Market Troubles In a tweet post, he highlighted Avalanche’s AVAX token as an important chart to monitor, cautioning that a decisive breakdown could spark a crisis of confidence rippling across cryptos […] The post As Bitcoin (BTC) Charges On, This AVAX Metric May Signal Price Dips for Altcoins – But There’s a Catch appeared first on CaptainAltcoin.

2024-2-24 23:30


Unlocking the Potential: Meme Moguls (MGLS) A Deep Dive into the 500% Surge Potential with Avalanche (AVAX) and Polygon (MATIC)

Let’s delve into how the synergy between Meme Moguls and blockchain giants Avalanche and Polygon could spark a monumental surge in the meme coin market, heralding a new era of growth. Avalanche (AVAX) Integration: A Catalyst for Growth Avalanche, a platform known for its rapid transaction speeds and low fees, […]

2024-2-24 18:37


Polygon (MATIC) Nears Resistance Level; Whales Eye Avalanche (AVAX) and InQubeta (QUBE), an Emerging AI Altcoin

The crypto scene isn’t short of excitement, from GoDaddy’s recent integration with ENS to Wormhole’s snapshot of its upcoming massive airdrop to Bitcoin hitting $50,000. With the overall market on the rise, altcoins have been gaining traction, with Polygon (MATIC) about to break the $1 resistance level.

2024-2-23 23:00


$AVAX Top Gainer as Market Continues to Rally

The overall crypto market has been bullish since its significant decline in 2022 and early 2023, and $AVAX is maximizing this rally by rising over 41% in just three weeks. Meanwhile, $GFOX continues to take the crypto world by storm by cementing its place as one of the best cryptocurrencies to buy that can deliver […] The post $AVAX Top Gainer as Market Continues to Rally appeared first on CaptainAltcoin.

2024-2-18 12:17