Avalanche Price Prediction – June 5
The AVAX/USD market is moving in a range-bound zone after a long-term featuring of a downward trend. Price possesses a minute positive percentage rate of 0.55 as its all-time high valued at $146.22 and its all-time low estimated at $2.79. Presently, the crypto economy is trading around the $24 value line.
Avalanche (GRT) Price Statistics:
AVAX price now – $24.71
AVAX market cap – $6.9 billion
AVAX circulating supply – 280.8 million
AVAX total supply – 404.2 million
Coinmarketcap ranking – #14
Avalanche (AVAX) Market
Resistance levels: $45, $70, $95
Support levels: $20, $15, $10
AVAX/USD – Daily Chart
The AVAX/USD daily chart showcases the crypto=economic price is moving in a range-bound zone below the sell signal side of the smaller SMA. The 14-day SMA indicator is underneath the 50-day SMA indicator. The upper bearish trend line drew alongside the smaller SMA trend line to play a backing role. The Stochastic Oscillators have been swinging around the 80 range and near part of the overbought region.
Will the AVAX/USD trade still risks the possibility of downsizing more?
There may still be no difference in the direction the AVAX/USD market operation will keep in the subsequent sessions. As the crypto-economic market is moving in a range-bound zone tends to elongate it underneath the SMA trend lines for some time. The position of buyers in the market has not had a firm stance to build a sustainable upward motion even while the Stochastic Oscillators reach for a lower range expected to portend a signal for getting a buying order afterward.
On the downside of the technical analysis, traders needed to be on the lookout for price reaction around the trend line of the 14-day SMA before considering joining which direction the market will push after a while. The overall analytical verdict remains that selling pressure will overwhelm the crypto’s opacity if the price is unable to breach northward through resistances above the $45 resistance level.
AVAX/BTC Price Analysis
Avalanche (AVAX) market’s trending worth with that of Bitcoin (BTC) has been running under a selling force. The trending outlook, as of writing, portends the cryptocurrency pair market is moving in a range-bound pattern characterized by lower lows than lower highs. The 50-day SMA indicator is above the 14-day SMA indicator. The Stochastic Oscillators are around the80 range. Indicators are still suggesting the base crypto may not be pushing for recovery soon against its flagship countering crypto.
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