AVAX BTC Avalanche Technical Analysis

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By Frans van Elst

Avalanche logo 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 fast and secure blockchain platform that enables developers to build decentralized applications with ease. Its novel consensus algorithm, called Snowman, allows for high throughput and low latency, making it an attractive choice for real-world use cases. Additionally, AVAX features a unique governance model that ensures fair decision-making and community involvement in the project’s development.

Avalanche Price Overview:

As of April 16, 2024, Avalanche is trading at approximately 0.00055 BTC. Let’s dive into the detailed price action for AVAX-BTC:

Navigate Avalanche’s (AVAXBTC) potential downturns at 5.46e-04 BTC with bearish technical analysis, emphasizing weakened support and cautionary indicators.

Metric Value
Open (O) 0.00055
High (H) 0.00056
Low (L) 0.00054
Close (C) 0.00055
Volume (C) 126,572.56
  • Open (O): The opening price for today’s trading session was approximately 0.00055 BTC.
  • High (H): Avalanche reached a daily high of around 0.00056 BTC.
  • Low (L): The daily low for AVAX-BTC was approximately 0.00054 BTC.
  • Close (C): At the time of analysis, Avalanche is trading near its daily close of 0.00055 BTC.
Metric Value
1D Change (%) -1.57%
3D Change (%) 2.91%
7D Change (%) -18.85%
30D Change (%) -36.12%
90D Change (%) -35.33%
YTD Change (%) -40.19%

Over the past three days, AVAXBTC has increased by approximately 2.91%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -18.85%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with AVAXBTC maintaining a downward trend of approximately -36.12%, despite intermittent fluctuations. Examining the last 90 days, AVAXBTC has witnessed substantial drop of approximately -35.33%, reflecting strong long-term confidence. Year-to-date, AVAXBTC has steadily dropped by around -40.19%, 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 0.60535.
  • Momentum score is -0.31573.

AVAX BTC Technical Analysis

Avalanche Trading Volume:

The trading volume for Avalanche (AVAX) over the past 24 hours has been insignificant, with approximately 126,572.56 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 37.05742. 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 insignificant trading volume are low signals for potential downward movement.

Navigate Avalanche’s (AVAXBTC) potential downturns at 5.46e-04 BTC with bearish technical analysis, emphasizing weakened support and cautionary indicators.

Dive into the details with our in-depth analysis on AVAX USDT Avalanche Technical Analysis; you won’t want to miss it if you found this post interesting.

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.

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