In this Avalanche technical analysis, we will examine the current price action, trading volume, key levels and indicators for AVAX-USDT. Avalanche (AVAX) is a fast and secure blockchain platform that enables developers to build decentralized applications with ease. Its novel consensus algorithm, called Snowman, ensures high throughput and low latency, making it an attractive choice for real-world use cases. Additionally, AVAX features a unique governance model that allows holders of its native token, AVAX, to participate in the decision-making process of the platform.
Avalanche Price Overview:
As of May 11, 2024, Avalanche is trading at approximately 33.75 USDT. Let’s dive into the detailed price action for AVAX-USDT:
| Metric | Value |
|---|---|
| Open (O) | 33.71 |
| High (H) | 34.04 |
| Low (L) | 33.06 |
| Close (C) | 33.75 |
| Volume (C) | 1,060,428.65 |
- Open (O): The opening price for today’s trading session was approximately 33.71 USDT.
- High (H): Avalanche reached a daily high of around 34.04 USDT.
- Low (L): The daily low for AVAX-USDT was approximately 33.06 USDT.
- Close (C): At the time of analysis, Avalanche is trading near its daily close of 33.75 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 0.12% |
| 3D Change (%) | -0.79% |
| 7D Change (%) | -9.66% |
| 30D Change (%) | -26.65% |
| 90D Change (%) | -15.03% |
| YTD Change (%) | -12.50% |
Over the past three days, AVAXUSDT has dropped by approximately -0.79%, showcasing increased market volatility. Throughout the last week, it continued to fall, with a loss of around -9.66%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with AVAXUSDT maintaining a downward trend of approximately -26.65%, despite intermittent fluctuations. Examining the last 90 days, AVAXUSDT has witnessed substantial decrease of approximately -15.03%, reflecting strong long-term confidence. Year-to-date, AVAXUSDT has steadily dropped by around -12.50%, 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-USDT 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 0.59.
- Momentum score is -0.11903.
AVAX USDT Technical Analysis
Avalanche Trading Volume:
The trading volume for Avalanche (AVAX) over the past 24 hours has been insignificant, with approximately 1,060,428.65 USDT 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-USDT is currently in the low zone, around 43.47413. This suggests that Avalanche is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Avalanche (AVAX-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Acknowledge potential headwinds for Avalanche (AVAXUSDT) at 33.75 USDT through bearish technical analysis, featuring weakened support and cautionary indicators.
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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.