AVAX price analysis for 14 December 2022, AVAX, the twentieth-largest cryptocurrency based on market cap, is in a downtrend since November 2021. You can read more about AVAX price from CoinCodex. On the third day of this week, it seems that the pressure tries to balance between buyers and sellers 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 December 2022
AVAX price analysis on the Daily Chart for 14 December 2022
By diving into the daily timeframe, the price keeps fluctuating below the daily 50 SMMA($16.52). The price keeps fluctuating close to $13.77 area which can act as resistance. Be aware of FOMC’s Press Conference today.
The TFLOW V2 Algo has already generated a Short signal.
The Daily MACD indicator is negative with a positive histogram.
The Daily RSI fluctuates over 50.
The 50 Daily SMMA stands above the price which means that the bears control the price.
In the 5-hour chart, AVAX fluctuates over the 50 SMMA line of $13.38. The Volume Profile indicator determines $13.05 as a strong trading area that has been surpassed. Moreover, the price fluctuates back to the previous highs.
The 5-hour MACD turns positive. The 5-hour RSI fluctuates over 50.
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, the price fluctuates back to previous resistance areas. We observe the area for price reaction.
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