AVAX Analysis
| Overall Performance | |||||
| 24-hr | 7-Day | 30-Day | 1-Year | Mkt Cap. | 24-hr Vol. |
| -4.04% | -6.75% | -10.19% | -80.83% | 5.37 bn | 0.18 bn |
Avalanche (AVAXUSDT) price over 7 days dropped -6.75% to 16.37 . For the record, AVAXUSDT is -88.64% below all-time high of 144.96.
Over the last 30 days, AVAX is down by -10.19% while 12-month period is down by -80.83%.
For the week, our technical analysis on the price action looks pressured towards the downside as Avalanche is not performing well over the last 7 days.
What can we expect from Avalanche today?
At time of writing, Avalanche has decreased by -4.04% over the past 24 hours. Our analysis is that there could be selling pressure.
Looking ahead for the day, immediate support level is at 15.89 (S1) with break below could see further selling pressure towards 15.41 (S2). As the current momentum is fading, we prefer to look at firm break of the recent daily high of 17.07 with a higher-low pullback as a possible indicator of buying interest. Though failure to break the resistance level could also suggest price consolidation.
Key levels to watch out:
| R3 | 18.03 |
| R2 | 17.55 |
| R1 | 16.96 |
| Daily Pivot | 16.48 |
| S1 | 15.89 |
| S2 | 15.41 |
| S3 | 14.82 |
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.
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