AVAX price analysis for 14 April 2023

AVAX price analysis for 14 April 2023, AVAX, the sixteenth-largest cryptocurrency based on market cap, is in a downtrend since November 2021. You can read more about AVAX price from CoinCodex. On the fifth day of this week, it seems that buyers try to dominate the price based on the weekly Heikin Ashi Candlestick. The weekly MACD is still negative but forms a positive histogram. The weekly RSI fluctuates below 50. The price is still under the 50 SMMA line.

AVAX price analysis on the Daily Chart for 14 April 2023

By diving into the daily timeframe, the price fluctuates above the daily 50 SMMA($17.19). Additionally, the price can reach previous resistance areas.

The TFLOW V3 Algo has already generated a Trade Long signal.

The Daily MACD is positive.

The Daily RSI fluctuates over 50.

In the 5-hour chart, AVAX fluctuates over the 50 SMMA line of $17.71. The Volume Profile indicator determines $17.37 as a strong trading area and the price fluctuates above it. The price surpasses previous resistance areas.

The 5-hour MACD is positive. Additionally, the 5-hour RSI fluctuates over 50 and close to the overbought zone.

Conclusion

The price of AVAX forms a bearish momentum in medium-term scale as the technical analysis and the indicators coincide. In a short-term scale, we observe that the price fluctuates over the daily and the 5-hour 50 SMMA. Buyers seem to be stronger and lead the price higher.

Read all the latest Crypto Analysis Articles here.

Join the TFLOW Trading Community: https://t.me/tflowglobal