AVALANCHE - AVAX/USD - 1H - Technical analysis published on 12/16/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
89%
6%
6%
My opinion
Bullish above 42.90 USD
My targets
50.74 USD (+16.21%)
59.79 USD (+36.94%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on AVALANCHE - AVAX/USD as long as the price remains well above 42.90 USD. The buyers' bullish objective is set at 50.74 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 59.79 USD. If there is any crossing, the next objective would be the resistance located at 98.08 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.8
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
AVALANCHE - AVAX/USD rating 43.66 USD. The price has increased by +9.95% since the last closing with the lowest point at 38.49 USD and the highest point at 43.71 USD. The deviation from the price is +13.43% for the low point and -0.11% for the high point.38.49
43.71
43.66
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
The Central Volumes scanner notes the presence of abnormal volumes:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Abnormal volumes
Timeframe : 50 days
Technical
Technical analysis of AVALANCHE - AVAX/USD in 1H shows a strongly overall bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 39.13 | 41.46 | 42.90 | 43.66 | 59.79 | 98.08 | 135.29 |
| Change (%) | -10.38% | -5.04% | -1.74% | - | +36.94% | +124.64% | +209.87% |
| Change | -4.53 | -2.20 | -0.76 | - | +16.13 | +54.42 | +91.63 |
| Level | Intermediate | Intermediate | Minor | - | Minor | Minor | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 34.43 | 36.49 | 38.10 | 40.16 | 41.77 | 43.83 | 45.44 |
| Camarilla | 38.70 | 39.04 | 39.37 | 39.71 | 40.05 | 40.38 | 40.72 |
| Woodie | 34.21 | 36.38 | 37.88 | 40.05 | 41.55 | 43.72 | 45.22 |
| Fibonacci | 36.49 | 37.89 | 38.76 | 40.16 | 41.56 | 42.43 | 43.83 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.09 | 15.41 | 23.64 | 28.96 | 37.19 | 42.51 | 50.74 |
| Camarilla | 28.13 | 29.38 | 30.62 | 31.86 | 33.10 | 34.34 | 35.59 |
| Woodie | 11.54 | 16.14 | 25.09 | 29.69 | 38.64 | 43.24 | 52.19 |
| Fibonacci | 15.41 | 20.59 | 23.79 | 28.96 | 34.14 | 37.34 | 42.51 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | -0.56 | 5.16 | 13.27 | 18.99 | 27.10 | 32.82 | 40.93 |
| Camarilla | 17.58 | 18.85 | 20.11 | 21.38 | 22.65 | 23.92 | 25.18 |
| Woodie | 0.64 | 5.76 | 14.47 | 19.59 | 28.30 | 33.42 | 42.13 |
| Fibonacci | 5.16 | 10.44 | 13.71 | 18.99 | 24.27 | 27.54 | 32.82 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 68.46 | |
| MACD (12,26,9): | 0.5600 | |
| Directional Movement: | 10.14 | |
| AROON (14): | 71.42 | |
| DEMA (21): | 42.42 | |
| Parabolic SAR (0,02-0,02-0,2): | 40.18 | |
| Elder Ray (13): | 1.65 | |
| Super Trend (3,10): | 40.72 | |
| Zig ZAG (10): | 43.41 | |
| VORTEX (21): | 1.2000 | |
| Stochastique (14,3,5): | 96.21 | |
| TEMA (21): | 42.06 | |
| Williams %R (14): | -4.98 | |
| Chande Momentum Oscillator (20): | 3.91 | |
| Repulse (5,40,3): | 2.6100 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1900 | |
| Courbe Coppock: | 9.11 |
| MA7: | 39.16 | |
| MA20: | 29.21 | |
| MA50: | 21.62 | |
| MA100: | 15.56 | |
| MAexp7: | 42.52 | |
| MAexp20: | 41.53 | |
| MAexp50: | 40.48 | |
| MAexp100: | 39.15 | |
| Price / MA7: | +11.49% | |
| Price / MA20: | +49.47% | |
| Price / MA50: | +101.94% | |
| Price / MA100: | +180.59% | |
| Price / MAexp7: | +2.68% | |
| Price / MAexp20: | +5.13% | |
| Price / MAexp50: | +7.86% | |
| Price / MAexp100: | +11.52% |
Quotes :
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Real time data
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Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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