NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Reaches Forecasted All-Time High: Prophecy Predicts Bear Market Low In 364 Days
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Reaches Forecasted All-Time High: Prophecy Predicts Bear Market Low In 364 Days

Avalanche (AVAX) Shows Optimism But Is This A Price Reversal?

anushsamal
anushsamal
3 years ago
2 mins read
Avalanche

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Avalanche (AVAX) has displayed recovery on its chart. Over the last 24 hours, the altcoin brought home 4.8% gain. Although, there has been a considerable daily gain, AVAX is trading underneath its long-standing price floor.

It is difficult for investors to look at just the daily gain as a good enough reason to buy the coin at the moment. Technical for the coin hasn’t suggested strong bullishness which might suggest that AVAX could be a good buy at the time of writing.

Avalanche (AVAX) has lost 8% of its market value in the last week. This forced many investors to liquidate the asset and leave. Since, AVAX broke below its long term support area, this could act as an important red flag for the investors.

The next solid area of support for AVAX was at $20. The coin traded around the current price level previously in the month of August, a year ago.

Avalanche Price Analysis: One Day Chart

Avalanche
Avalanche was trading at $31 on the one day chart | Source: AVAXUSD on TradingView

Avalanche (AVAX) was exchanging hands at $31 at the time of writing. The altcoin has been laterally trading at that price mark for nearly a week now. It revisited this price mark last year, however, back then the coin was on an uptrend.

Immediate resistance for the coin stood at $40 as established previously. A fall below the current price level could send AVAX near the $20 support mark. Failing to settle near the $20 mark could bring AVAX anywhere between the $12 and $9 support level.

Technical Analysis

Avalanche
Avalanche depicts low buying strength on the one day chart | Source: AVAXUSD on TradingView

The altcoin continues to depict weakness on its chart. The technical outlook seems bearish because buyers are nowhere to be seen in the market. As the coin revisited the August, last year’s price level, AVAX remained under the grasps of the sellers in the market.

According to the Relative Strength Index, the indicator was bordering the oversold mark. Until and unless, RSI manages to move above the half-line, it is too early to call this price action a reversal.

Going by the Directional Movement Index that reads the price direction, bears are in control. The -DI line was above the +DI mark signifying bearishness. The Average Directional Index line (red) was near the 50-mark, this reading meant that price action was strong with less signs of a reversal.

Suggested Reading | Avalanche Crumbles More Than 16% As Crypto Landslide Continues

Avalanche
Avalanche might be flashing buy signal on the one day chart | Source: AVAXUSD on TradingView

On the one day chart, AVAX’s technical pointed towards a possible change in price direction at the time of writing. Moving Average Convergence Diverge aka MACD, displayed a green signal bar above the half-line.

A green signal bar above the half-line might mean a buy signal, if continued buy signals are witnessed it may mean a change in price momentum.

Parabolic SAR also depicted a dot beneath the price candles, this means a change in price direction. If more dots are seen beneath the candlesticks over the upcoming trading sessions then AVAX might stage a recovery on its chart.

Suggested Reading | Cardano (ADA) Grapples At $0.524; Bullish Trajectory Coming

Tweet123Share196ShareSend
anushsamal
anushsamal

anushsamal

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin

Bitcoin Short-Term Prediction: Why The Price Will Cross $140,000 By The End Of October

New Bitcoin (BTC) price forecasts suggest that the leading cryptocurrency could cross $140,000 before the end of October. Based on...

Scott Matherson 4 hours ago
altcoini

Altcoini bodo v 72 urah vzbudili veliko zanimanje

Trg kriptovalut je na pragu velikega preboja, altcoini pa so v položaju, da v naslednjih 72 urah prevzamejo vodilno vlogo....

tanjapotocnik 8 hours ago
altcoini

Top 3 altcoini, ki jih je vredno kupiti v oktobru

Ko kriptotrg ponovno pridobiva zagon, ponovno pritegnejo pozornost altcoini. Oktober, ki je v zgodovini kriptovalut znan kot mesec presenečenj, kaže,...

tanjapotocnik 8 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

From $254M To $78.5B: Tron USDT Growth Drives Network Valuation

From $254M To $78.5B: Tron USDT Growth Drives Network Valuation

Sebastian Villafuerte 53 minutes ago
Bitcoin

Bitcoin Dominance Dilemma – Why Capital Flows Back To BTC Before Fuelling Altcoin Rally

Godspower Owie 2 hours ago
Dogecoin news

Why The Dogecoin Price Could Surge 3,690% To $9.8 This Bull Cycle

Sandra White 3 hours ago

Premium Sponsors

Press Releases

  • Potrivit unui analist cripto, un altcoin bazat pe Solana...

    45 minutes ago
  • Kripto trgovac kaže da je altcoin iz Solana stacka pred probojem u narednim tjednima, ažurira pregled Bitcoina

    Kripto trgovac kaže da je altcoin iz Solana stacka pred...

    1 hour ago
  • Krypto obchodník hovorí, že altcoin zo Solana stacku je pred prielomom v nasledujúcich týždňoch, aktualizuje výhľad na Bitcoin

    Krypto obchodník hovorí, že altcoin zo Solana stacku je...

    2 hours ago
  • Według analityka krypto, altcoin oparty na Solanie jest...

    2 hours ago
  • Krypto trader říká, že altcoin ze Solana stacku je před průrazem v následujících týdnech, aktualizuje výhled na Bitcoin

    Krypto trader říká, že altcoin ze Solana stacku je...

    5 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.