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.
Recent news and research:
Find more real-time news here.
Ava Labs Partners With Amazon Web Services to Accelerate Blockchain Adoption, AVAX Jumps 16%
Ava Labs Releases Core, an All-In-One Web3 Operating System for Avalanche
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
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
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.