Avalanche price increased by 5.26% over the past 24 hours.
|Performance after Tuesday 07-Feb|
Avalanche (AVAXUSDT) price for the week to-date gained 3.69% or 0.74 higher to 20.82. At time of writing into Wednesday’s trading session, Avalanche has increased by 5.26% over the past 24 hours. For the record, AVAXUSDT is -85.64% below all-time high of 144.96. On Tuesday, AVAX rose 1.28% to 19.83.
On the daily timeframe, price is below 9-Day EMA and Stochastic oscillator is falling, our analysis is that there could be selling pressure as the outlook looks bearish.
For the month-to-date, AVAX is up by 5.15% or 1.02 higher.
What can we expect from Avalanche today?
Looking ahead for the day, we are looking at 20.43 or 19.96 (R1) as important resistance levels and daily low of 19.51 and 19.61 (S1) as key support levels. Avalanche need to break on either side to indicate a short-term bias. A break above 19.86 would suggest bullish bias after recent positive movement.
For the week to-date, take note that Avalanche is rising and up by 3.69% as the pair continued to trade higher in the past few days. Prior performance for the week ending 2023-02-05 was -4.34%.
Key levels to watch out:
Last updated: 01:27 am UTC, 08-Feb 2023
Avalanche is a high throughput smart contract blockchain platform. Validators secure the network through a proof-of-stake consensus protocol. It is said to be fast, low cost, and environmental friendly.Mainnet was launched in September 21, 2020. Since then, the platform has grown to secure over 100+ individual projects, $1.4M+ of AVAX burned (reducing supply), 950+ individual block-producing validators, and over 500k+ community members around the globe. Decentralized finance (DeFi) applications can be found on Avalanche such as Pangolin, TraderJoe, and more.
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