Avalanche Shows Signs of Effective Rebound with Single-Day 12% Price Surge
- Avalanche has shown significant signs of revival as price reached the $17 level over the past day.
- The altcoin’s daily trading volume shows a modest dip of 1.52% as per CMC data.
The Asian community woke up to a market revival in the morning hours of April 8. Meanwhile, the international economy remains shaky as the tariff war is far from over. China vouches to fight till the end as US president Trump threatens additional 50% tariffs. Amid such turmoil, unlike yesterday, the crypto market has managed to sustain the positive momentum.
Leading cryptocurrency, Bitcoin is trading closer to the $80K mark and the altcoin sector is also booming. One particular altcoin, Avalanche, has shown significant upward movements in the last few hours. The token has factored in a price increase of 12.50% and is beginning to show signs of a revival.
In the afternoon hours of April 7, the altcoin was trading at a low of $15.35. As the aforementioned, bullish candles appeared, it inched closer to the $17 range. At the time of writing, AVAX was trading at $17.32 as per CMC data.
However, when referring to its weekly chart, Avalanche still shows a negative trend. The token has experienced a significant price dip of 12.54% resulting from the previous market crashes. On the other hand, if AVAX sustains the positive momentum this week, it might reverse the trend.
Will Avalanche Sustain its Positive Momentum?
On analyzing its recent price trends, the altcoin traces a horizontal channel. A horizontal channel refers to a consolidation which is followed by either an upward or downward movement. With positive signals from its technical indicators, AVAX suggests that it might hold on to its positive momentum.
Its Moving Average Convergence Divergence (MACD) MACD line stands above the signal line. This suggests an incoming positive market situation. Furthermore, its RSI value is 41.25 as per TradingView data. The altcoin although still in the oversold zone is inching closer to a neutral market sentiment.
Similar to Avalanche, other altcoins such as HYPE and Fartcoin also showed positive momentum in the last 24 hours.
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Avalanche Shows Signs of Effective Rebound with Single-Day 12% Price Surge
- Avalanche has shown significant signs of revival as price reached the $17 level over the past day.
- The altcoin’s daily trading volume shows a modest dip of 1.52% as per CMC data.
The Asian community woke up to a market revival in the morning hours of April 8. Meanwhile, the international economy remains shaky as the tariff war is far from over. China vouches to fight till the end as US president Trump threatens additional 50% tariffs. Amid such turmoil, unlike yesterday, the crypto market has managed to sustain the positive momentum.
Leading cryptocurrency, Bitcoin is trading closer to the $80K mark and the altcoin sector is also booming. One particular altcoin, Avalanche, has shown significant upward movements in the last few hours. The token has factored in a price increase of 12.50% and is beginning to show signs of a revival.
In the afternoon hours of April 7, the altcoin was trading at a low of $15.35. As the aforementioned, bullish candles appeared, it inched closer to the $17 range. At the time of writing, AVAX was trading at $17.32 as per CMC data.
However, when referring to its weekly chart, Avalanche still shows a negative trend. The token has experienced a significant price dip of 12.54% resulting from the previous market crashes. On the other hand, if AVAX sustains the positive momentum this week, it might reverse the trend.
Will Avalanche Sustain its Positive Momentum?
On analyzing its recent price trends, the altcoin traces a horizontal channel. A horizontal channel refers to a consolidation which is followed by either an upward or downward movement. With positive signals from its technical indicators, AVAX suggests that it might hold on to its positive momentum.
Its Moving Average Convergence Divergence (MACD) MACD line stands above the signal line. This suggests an incoming positive market situation. Furthermore, its RSI value is 41.25 as per TradingView data. The altcoin although still in the oversold zone is inching closer to a neutral market sentiment.
Similar to Avalanche, other altcoins such as HYPE and Fartcoin also showed positive momentum in the last 24 hours.
Read More
Canada’s SOL ETF Launches April 16: How Might Price Move April 15?