AVAXUSDT Chart by TradingView
| Performance after Tuesday 02-Aug | |||
| Period | Pct | Chg | Momentum |
| Tuesday | -3.05% | -0.72 |  |
| Week to-date | -1.35% | -0.32 | |
| August | -1.35% | -0.32 | |
AVAX Analysis
Avalanche (AVAXUSDT) price for the week to-date dropped -1.35% or -0.32 lower to 23.40. At time of writing into Wednesday’s trading session, Avalanche has increased by 3.63% over the past 24 hours. For the record, AVAXUSDT is -83.86% below all-time high of 144.96. On Tuesday, AVAX dropped -3.05% to 22.85.
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 down by -1.35% or -0.32 lower.
What can we expect from Avalanche today?
Looking ahead for the day, immediate support level is at 22.06 (S1) with break below could see further selling pressure towards 21.27 (S2). For potential buyers, as the current momentum is falling, we prefer to look at firm break of the recent daily high of 24.00 as an important indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. Avalanche need to break on either side to indicate a short-term bias. A close below 22.24 would indicate selling pressure.
For the week to-date, take note that Avalanche is falling as the pair posted lower, down by -1.35%. Prior performance for the week ending 2022-07-31 was -0.29%.
Key levels to watch out:
| R3 | 25.58 |
| R2 | 24.79 |
| R1 | 23.82 |
| Daily Pivot | 23.03 |
| S1 | 22.06 |
| S2 | 21.27 |
| S3 | 20.30 |
Last updated: 08:45 am UTC, 03-Aug 2022
About Avalanche
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.
