AVAX price analysis for 14 March 2023

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AVAX price analysis for 14 March 2023, 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 second day of this week, it seems that sellers try to take control of 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 March 2023

By diving into the daily timeframe, the price encounters the daily 50 SMMA($16.91) while fluctuating above the $13.77 area. Additionally, the price decrease may continue to lower levels. Be aware of CPI news today.

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The TFLOW V3 Algo has already generated a Short signal.

The Daily MACD is negative with a positive histogram.

The Daily RSI fluctuates below 50.

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In the 5-hour chart, AVAX encounters the 50 SMMA line of $16.56. The Volume Profile indicator determines $17.89 as a strong trading area and the price fluctuates below it. These areas can act as resistance..

The 5-hour MACD is negative with a positive histogram. Additionally, 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, we observe that the price fluctuates below previous support levels. Moreover, the price fluctuates below the 5-hour 50 SMMA, which can act as resistance.

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