|Performance after Wednesday 27-Jul|
Avalanche (AVAXUSDT) price for the week to-date dropped -3.53% or -0.84 lower to 22.95. At time of writing into Thursday’s trading session, Avalanche has increased by 12.67% over the past 24 hours. For the record, AVAXUSDT is -84.17% below all-time high of 144.96. On Wednesday, AVAX rose 12.94% to 23.39.
On the daily timeframe, price is above 9-Day EMA and Stochastic oscillator is rising, our analysis is that there is bullish momentum and price could continue to go higher.
For the month-to-date, AVAX is up by 35.08% or 5.96 higher.
What can we expect from Avalanche today?
Looking ahead for the day, immediate upside resistance level at 24.52 (R1) while on the downside, we are looking at daily low of 20.21 as an important support. Break below this level could weaken the current bullish momentum.
Avalanche need to break on either side to indicate a short-term bias. A break above 23.49 would suggest bullish bias after recent positive movement.
For the week to-date, take note that Avalanche is falling as the pair posted lower, down by -3.53%. Prior performance for the week ending 2022-07-24 was 15.32%.
Key levels to watch out:
Last updated: 03:05 am UTC, 28-Jul 2022
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.