Today's Avalanche price analysis is painting a bearish picture, as the cryptocurrency has been unable to break resistance level of $18.31 and experienced a considerable drop in price. The 1-day chart indicates that AVAX/USD is now trading at $17.91, with a decrease of over 1.42%. This is being driven primarily by the presence of bearish momentum in the market, which has prevented the bulls from taking control. The overall trendline for AVAX/USD shows that the current trend is bearish and we could see the price dropping even further if the bearish pressure keeps up.

On the 4-hour chart, the situation is further worsened due to the correlation between MA and the current price of $17.95. The RSI indicator is also in the bearish region, suggesting that the sellers have not completely relinquished control of the market. At the same time, the upper and lower Bollinger Bands are close together, suggesting that the prices could remain range-bound in the near term.

Taking all of this into consideration, the Avalanche price analysis offers up a potential bearish future for AVAX/USD. If buyers fail to break $18.31 in the coming hours, then we could expect to see the price dip further and test the $17.70 support level. Sellers should exercise caution when trading AVAX/USD, as the bear trend is currently in full force.



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