Avalanche (AVAX) Analysis

2 min read September 22, 2023
Richard Fetyko

Avalanche (AVAX) Analysis

Avalanche (AVAX) Analysis

In addition to automated chart patterns, altFINS’ analysts conduct technical chart analyses of top 30 cryptocurrencies. We call these Curated Charts and they evaluate 5 core principals of technical analysis: Trend, Momentum, Patterns, Volume, Support and Resistance.

Avalanche (AVAX) technical analysis:

Trade setup: After a failed breakout from Ascending Triangle pattern (was rejected at 200-day MA ~ $16), price has broken back below $14 and resumed its downtrend. Price has reached and broken below $10 support, making a new Lower Low, consistent with a downtrend. That’s significant because that level held up in June and Dec 2022. (set a price alert).

Trend: Downtrend across all time horizons (Short- Medium- and Long-Term).

Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI < 45 (Bearish). MACD Histogram bars are declining, which suggests that momentum is weakening.

Support and Resistance: Nearest Support Zone is $9, which it broke. The nearest Resistance Zone is $10 (previous support), then $14.

See more curated charts of coins with technical analyses.

Avalanche AVAX analysis 22.09.2023

Recent news and research:

Find more real-time news here.

Ava Labs Partners With Amazon Web Services to Accelerate Blockchain Adoption, AVAX Jumps 16%

Avalanche Foundation Launches Multiverse, an up to $290M Incentive Program to Accelerate Growth of New Internet of Subnets

Avalanche Ecosystem Accelerator Colony Raises $18.5m to Fuel Next-Gen Apps

State of Avalanche (4Q-2021)

When And How Can You Trade $AVAX?

 Why is Web3 So Crucial for Avalanche Dapps?

Gnosis Safe Integrates with Avalanche, Expanding Security Tools for Developers and Users

Avalanche Accelerates AVAX Adoption with BitGo Deal

Avalanche Developers and Investors Form $200M ‘Blizzard’ Investment Fund

Avalanche Adds USDC Stablecoin in Continued DeFi Push

Cook Finance Launches First Ever DeFi Index Platform on Avalanche

Crypto Index Protocol Pollen Sets Sights On Avalanche Ecosystem

Deloitte Leverages Avalanche to Improve Recoveries from Natural Disasters and Public Health Emergencies

Avalanche launches fresh $220 million investment fund

Avalanche (AVAX) chain’s Zabu Finance sees a $3.2 million exploit

Cross-blockchain transfer protocol Ren goes live with Avalanche integration.

First Turing Complete FBA Network, Flare, Raises $11.3 Million.