Avalanche (AVAX) has experienced a slight price dip, currently sitting at $43.56. Despite this decrease, representing a 0.52% drop over the past 24 hours, the market shows increased trading activity.
With a market capitalization of $17.86 billion, the cryptocurrency is holding steady, and investor interest remains strong. While the price remains well below its potential target of $170 by the end of 2025, technical indicators suggest that the token could follow an upward trajectory in the near term.
Avalanche (AVAX) current market performance
As of the latest data, AVAX’s circulating supply stands at 410.21 million AVAX, with a total supply of 448.55 million and a maximum supply of 715.74 million.
Despite a slight 1.05% decline in market capitalization, AVAX’s daily trading volume has seen a 5.80% increase, reaching $549.88 million. This uptick in trading volume signals active investor participation, with market interest continuing to surround the token.
Price fluctuations and key levels
The price chart for AVAX shows a recent fluctuation with a peak of $43.66 before retracing to its current level. The resistance level is around $44, while support is near the $43 mark. These levels indicate that while the market sentiment seems cautious, there is potential for movement within this range.
The technical analysis suggests that AVAX could experience moderate fluctuations in the short term, with the market likely to test the $44 resistance level.
RSI and MACD indicators: A technical overview
The Relative Strength Index (RSI) is now at 61.01; therefore, there is no overbought or oversold condition for AVAX bulls. This makes it neither oversold nor overbought to signal any up movement but rather at the appropriate place for bullish action. However, if the RSI crosses above 70, the asset is overbought and may be subject to a pullback in the case of AVAX.
On the other hand, if the RSI is below 30, it could be a signal to buy the asset as the indicator has oversold it. The MACD indicator gives a positive crossover, with the MACD line at 0.10, slightly above the signal line. This means that there is weak bullish pressure, however. The MACD histogram demonstrates no movement, so a breakout is not expected soon.
