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Mixed sentiment leads AVAX cryptocurrency to trade sideways; establishes tight $17.73 to $18.66 range

13 April 2023

AVAXUSD

After dropping down to $17.73, AVAX recovers some losses and is currently trading at $18.27.

Avalanche made an initial break below its 10 day Simple Moving Average at $17.62, a possible indication of a forthcoming negative trend. Avalanche is currently flirting with an active Fibonacci support level around $18.08. Avalanche's upper Bollinger Band® is at $18.55, suggesting that a downward move may follow. In contrast, Avalanche bounced after reaching the $17.69 support zone, climbing 58 cents above it.

According to technical indicators, AVAX is positioned for a downward move in the short term.

While AVAX is pretty flat so far today, mixed performances are seen elsewhere as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. NEAR Protocol is up 8.79%. Ripple closed at $0.506 (down 2.14%).

Having set a significant high of $81.13 11 months ago, Avalanche is trading 77.59% lower. Avalanche has a market cap of 5.96 billion with an average daily volume of 154.43 million.

Market Summary

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Polkadot cryptocurrency trades up $0.036, approximately 0.64% higher this afternoon

Mixed sentiment leads Cardano cryptocurrency to trade sideways; establishes tight $0.379 to $0.383 range

Mixed sentiment leads TRON cryptocurrency to trade sideways; establishes tight $0.069 to $0.07 range

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