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AVALANCHE Price Analysis: Support at $12.05 has encouraged the token to chase R-1

  • The token has a 24 hours trading volume of 68,068,024 and the tremendous gain by 107.54 was seen.
  • The pattern of the inverted hammer was seen in the last one hour.
  • RSI oscillator shows the neutral action with the value of 51.430.
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The coin has been running well below its 200 days moving average and intact movement with its 50 DMA is continuing. It has been more than one month since the same pattern continues. The chart above shows the movement of the token with respect to SMA-20, SMA-50 and SMA-200. Along with the RSI oscillator. RSI for the last 5 hours shows the value of 58.588 and marks the buy action. MA-5 shows the sell action but MA-10 and MA-20 shows the buy action. Bull/Bear power shows the buy action and the value is 0.5600. The token’s present running suggests sell action to its holders who have purchased 100-200 days back. 

Volume/Market cap of the token is 0.0325 and its market dominance is 0.15%.

The AVAX-BTC pair is trailing at 0.0003563 and the gain  by 7.99% was seen whereas the AVAX-ETH pair is trailing at 0.005386 and the gain by 4.54% was seen in the last 24 hours. The token has shown the percentage gain by 5.83% since yesterday’s open.

Conclusion: SMA-20 has been trailing above SMA-50 at present and the returns are expected to go higher in coming time. The days range for the token is 11.42-12.90 and presently is at 12.26. The time to sell at present is not appropriate as the candle’s formation is red and is likely to favour bears. The token might fall in the coming time and so the purchase would be more decent. In order to attain the returns to 8-12% which was highest for the June month, wait for the token to fall and then the returns would be possible. The coin was less volatile in the month of June and is expected to continue likewise.

Technical Analysis:

Pivot: 12.29

R-1: 12.53

R-2: 12.68

S-1: 12.05 

S-2: 11.90

(Note- The unit is USD)