Join Our Telegram channel to stay up to date on breaking news coverage
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 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
Key Levels:
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.
Read more:
Join Our Telegram channel to stay up to date on breaking news coverage
