Avalanche Cryptocurrency Forecast
Avalanche cryptocurrency price up 2.08% on Thursday
(Updated on Apr 18, 2024)
The Avalanche cryptocurrency price gained 2.08% on the last trading day (Thursday, 18th Apr 2024), rising from $34.19 to $34.90. During the last trading day the cryptocurrency fluctuated 8.66% from a day low at $32.80 to a day high of $35.64. The price has fallen in 6 of the last 10 days and is down by -30.02% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 486 million more shares were traded than the day before. In total, 591 million shares were bought and sold for approximately $20.62 billion.
The cryptocurrency lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $34.39 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the cryptocurrency is expected to rise 38.96% during the next 3 months and, with a 90% probability hold a price between $47.78 and $87.22 at the end of this 3-month period.
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AVAXUSD Signals & Forecast
Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Avalanche cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $36.17 and $49.42. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 26, 2024, and so far it has fallen -40.11%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Avalanche cryptocurrency
Avalanche finds support from accumulated volume at $34.82 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $2.84 between high and low, or 8.66%. For the last week, the cryptocurrency has had daily average volatility of 11.44%.
Avalanche is oversold on RSI14 (22). Some cryptocurrencies may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AVAXUSD) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Avalanche to open at $34.45, and during the day (based on 14 day Average True Range), to move between $30.14 and $39.66, which gives a possible trading interval of +/-$4.76 (+/-13.65%) up or down from last closing price. If Avalanche takes out the full calculated possible swing range there will be an estimated 27.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $34.82 (0.23%) than the resistance at $35.78 (2.52%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Avalanche cryptocurrency A Buy?
The Avalanche cryptocurrency holds several negative signals and despite the positive trend, we believe Avalanche will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this cryptocurrency.
Current score: -2.176 Sell Candidate Unchanged
Predicted Opening Price for Avalanche of Friday, April 19, 2024
Fair opening price April 19, 2024 | Current price |
---|---|
$34.45 ( 1.30%) | $34.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AVAXUSD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 37.29 | 6.84 % | |
R2 | 36.20 | 3.73 % | ||
R1 | 35.53 | 1.81 % | ||
Current price: | 34.90 | |||
Support | S1 | 33.36 | -4.41 % | |
S2 | 32.69 | -6.33 % | ||
S3 | 31.61 | -9.44 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 39.01 | 11.78 % | |
R2 | 36.76 | 5.33 % | ||
R1 | 35.78 | 2.52 % | ||
Current price | 34.90 | |||
Support | S1 | 34.82 | -0.229% | |
S2 | 34.21 | -1.98% | ||
S3 | 30.69 | -12.06% |
FAQ
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