Avalanche Price Slips At $30 As AVAX Eyes Key Support

Name	Symbol	Market	Market Cap ($)	Algorithm
Avalanche	AVAXUSD	Crypto	13,041,937,318	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Avalanche

AVAXUSD

Crypto

13,041,937,318

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.220	0.64%	34.66	34.66	34.68

Price Change

Price Change %

Current Price

Bid Price

Offer

0.220

0.64%

34.66

34.68

High Price	Low Price	Open Price	Prev. Close	52 Week Range
35.24	34.33	34.39	34.44	8.62 - 65.38

High Price

Low Price

Open Price

Prev. Close

52 Week Range

35.24

34.33

34.39

34.44

8.62 - 65.38

Exchange	Last Trade	Size	Trade Price	Currency
BSTP	15:51:47	41.00	34.67	USD

Exchange

Last Trade

Size

Trade Price

Currency

BSTP

15:51:47

41.00

34.67

USD

Price x Volume	Volume	Base Symbol	Related Pairs
7,088,968.18	203,529.61	AVAX	AVAXEUR	AVAXGBP	AVAXBTC

Price x Volume

Volume

Base Symbol

Related Pairs

7,088,968.18

203,529.61

Avalanche Price Slips At $30 As AVAX Eyes Key Support

29/08/2022 11:27pm

NEWSBTC

The price of Avalanche (AVAX) slips at $30 against Tether (USDT) as Avalanche (AVAX) eyes key support to hold the price from selling off. AVAX showed great strength rallying to a high of $30 but was rejected as Bitcoin’s (BTC) price continued to go lower, affecting the price of AVAX from trending higher. (Data from Binance) Related Reading: Why Bitcoin Is Oversold As BTC Reclaims Territory North Of $20,000 Avalanche (AVAX) Price Analysis On The Weekly Chart According to the chart, the price of AVAX had a strong bullish bias at $30, but the price was rejected from that region, causing the price of AVAX to move downward. After hitting a weekly low of $14.5, AVAX rallied to a high of $30, with hopes of retesting $50. The price was rejected at $30 and has since remained bullish. The price of AVAX closed with a weekly bearish candle, and the price volume suggests that the new week will be even more bearish. If AVAX maintains its current structure, we could see a retest of the support at $14.5 or lower, depending on sell volume. Weekly resistance for the price of AVAX – $30. Weekly support for the price of AVAX – $14.5. Price Analysis Of AVAX On The Daily (1D) Chart AVAX’s price reached a daily low of $16, forming good support for the price to bounce off. AVAX’s price rose to $30, but it couldn’t break through the resistance because the price was sharply rejected. AVAX is currently trading at $19.3 below the 50 and 200 Exponential Moving Averages (EMA), which act as resistance to the price of AVAX breaking higher. The 50 and 200 EMA correspond to prices of $24 and $40, respectively; for AVAX to trend higher, it must break through this region, which acts as resistance for AVAX prices. A break and close above the 50-day moving average would indicate a short-term relief bounce, while a close above the 200-day moving average would indicate a downtrend reversal to the upside of the current bearish trend. If the price of AVAX fails to break the resistance at $24, we could see the price of AVAX going to the lower region for price accumulation at $16. Daily (1D) resistance for AVAX price – $24. Daily (1D) support for AVAX price – $16. Price Analysis Of AVAX On The Four-Hourly (4H) Chart The price of AVAX on the 4H chart has continued to look weak, trying to hold above the support area at $18; more buy orders in this region could see the price of AVAX going higher. AVAX has formed a bullish divergence on the 4H chart as the price is oversold; we could see a bounce from this region for AVAX price, as $24 could act as minor resistance. The Relative Strength Index (RSI) for AVAX on the 4H chart is below 30, indicating AVAX is oversold. Four-Hourly (4H) resistance for AVAX price – $24. Four-Hourly (4H) support for AVAX price – $18. Related Reading: Ethereum Might Crash After The Current Supply Zone, Analysts Predict Featured Image From Fintechs, Charts From TradingView.com

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AVAXUSD Avalanche