Avalanche posts light gains on a low-volatility day, ranging between $13.62 – $14.16 and is now at $14.09.
Avalanche chart analysis: after reaching the known resistance zone beginning at $14.58, Avalanche price action retreated approximately 49 cents. Trend analysis indicates that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. AVAX failed to break through the $15.44 Fibonacci resistance level. Analysis based on the asset volatility indicates that Bollinger Band® analysis indicates that current price action is approaching the upper band at $14.15, thereby suggesting that Avalanche is becoming overvalued.
Notwithstanding Avalanche's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Other markets are also showing gains as TRON is up 4.41% to $0.057. Solana added 5.4% to its value, now trading at $14.66. Bitcoin gained 2.35% and is now trading at $18,200.
AVAX reached a significant high of $123.33 around 11 months ago but has lost 88.83% since then. Avalanche has a market cap of 4.38 billion with an average daily volume of 12.37 million.