In this Avalanche technical analysis, we will examine the current price action, trading volume, key levels and indicators for AVAX-BTC. Avalanche (AVAX) is a decentralized platform that enables the creation of highly scalable, low-latency blockchain applications through its novel consensus algorithm and parallel processing capabilities. AVAX has gained significant attention in recent months due to its ability to process over 1,000 transactions per second, making it one of the fastest blockchain platforms in the market. With its strong focus on security and scalability, Avalanche is poised to revolutionize the way we think about blockchain technology.
Avalanche Price Overview:
As of October 02, 2023, Avalanche is trading at approximately 0.00034 BTC. Let’s dive into the detailed price action for AVAX-BTC:
| Metric | Value |
|---|---|
| Open (O) | 0.00035 |
| High (H) | 0.00035 |
| Low (L) | 0.00033 |
| Close (C) | 0.00034 |
| Volume (C) | 96,311.76 |
- Open (O): The opening price for today’s trading session was approximately 0.00035 BTC.
- High (H): Avalanche reached a daily high of around 0.00035 BTC.
- Low (L): The daily low for AVAX-BTC was approximately 0.00033 BTC.
- Close (C): At the time of analysis, Avalanche is trading near its daily close of 0.00034 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | -3.79% |
| 3D Change (%) | -1.76% |
| 7D Change (%) | -1.47% |
| 30D Change (%) | -12.53% |
| 90D Change (%) | -20.91% |
| YTD Change (%) | -49.15% |
Over the past three days, AVAXBTC has fallen by approximately -1.76%, showcasing increased market volatility. Throughout the last week, it continued to drop, with a loss of around -1.47%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with AVAXBTC maintaining a downward trend of approximately -12.53%, despite intermittent fluctuations. Examining the last 90 days, AVAXBTC has witnessed substantial decrease of approximately -20.91%, reflecting strong long-term confidence. Year-to-date, AVAXBTC has steadily depreciated by around -49.15%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Avalanche Live Chart:
You can access a live price chart for AVAX-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.22635.
- Momentum score is -0.12529.
AVAX BTC Technical Analysis
Avalanche Trading Volume:
The trading volume for Avalanche (AVAX) over the past 24 hours has been significant, with approximately 96,311.76 BTC traded against AVAX. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): AVAX is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Avalanche is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for AVAX-BTC is currently in the low zone, around 34.37259. This suggests that Avalanche is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Avalanche (AVAX-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and significant trading volume are low signals for potential downward movement.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.
