Community Forex Questions
Three reasons why Avax price avalanche failed
The price of Avalanche may fall further. The descendant thesis is muddled by subtle references.
Avalanche prices could fall further.
Avalanche price, like many other cryptocurrencies, is showing signs of another drop. At the current price level of $24, the bulls were unwilling to fight. Instead, the avalanche price is continuing to fall on the 4-day chart, as indecision and doji candles fade. Price action may indicate that the bulls are retreating and preferring to act as support at lower levels.
The RSI and Volume Profile indicators show a bearish convergence for the Avalanche price. On the 4-day chart, the RSI failed to rise above the ascending support levels. The Volume Profile shows a subtle re-entry of the bears into the market, which could indicate that the battle between the bulls and the bears is already over.
However, no price for an avalanche has been set in stone as of yet. Bulls can regain control. A break above $29 would be the first meaningful signal. If the bulls can produce this price action, they could go as high as $50, representing a 100% increase from the current breakdown price.
Avalanche prices could fall further.
Avalanche price, like many other cryptocurrencies, is showing signs of another drop. At the current price level of $24, the bulls were unwilling to fight. Instead, the avalanche price is continuing to fall on the 4-day chart, as indecision and doji candles fade. Price action may indicate that the bulls are retreating and preferring to act as support at lower levels.
The RSI and Volume Profile indicators show a bearish convergence for the Avalanche price. On the 4-day chart, the RSI failed to rise above the ascending support levels. The Volume Profile shows a subtle re-entry of the bears into the market, which could indicate that the battle between the bulls and the bears is already over.
However, no price for an avalanche has been set in stone as of yet. Bulls can regain control. A break above $29 would be the first meaningful signal. If the bulls can produce this price action, they could go as high as $50, representing a 100% increase from the current breakdown price.
Jan 06, 2023 00:08