AVALANCHE - AVAX/USD - 1H - Technical analysis published on 02/22/2024 (GMT)
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- Timeframe : 1H
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Slightly bearish
Technical indicators
56%
11%
33%
My opinion
Bullish above 37.31 USD
My targets
38.42 USD (+2.21%)
39.58 USD (+5.29%)
My analysis
The current short-term bullish trend is expected to quickly reset the neutral or bullish trend. To avoid contradicting the short term, it would be possible to favour long positions (at the time of purchase) for AVALANCHE - AVAX/USD as long as the price remains well above 37.31 USD. The buyers' bullish objective is set at 38.42 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 39.58 USD. If there is any crossing, the next objective would be the resistance located at 40.76 USD. As the basic trend is not clearly displayed, attention should be paid to the price reaction to the resistance at 38.42 USD. On this resistance, against the trend traders who would like to go short on AVALANCHE - AVAX/USD with a bearish signal from their trading strategy, should not hesitate to act.
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
1.8
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The AVALANCHE - AVAX/USD rating is 37.59 USD. On the day, this instrument lost -0.05% and was between 36.51 USD and 38.20 USD. This implies that the price is at +2.96% from its lowest and at -1.60% from its highest.36.51
38.20
37.59
Here is a more detailed summary of the historical variations registered by AVALANCHE - AVAX/USD:
Technical
Technical analysis of this 1H chart of AVALANCHE - AVAX/USD indicates that the overall trend is slightly bearish. 57.14% of the signals given by moving averages are bearish. Caution: the strong bullish signals currently being given by short-term moving averages could quickly lead to a reversal of the trend. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with Moving Average 50
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
An assessment of technical indicators shows a moderate bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
MACD indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
MACD indicator is back over 0
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is back over -50
Type : Bullish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 33.51 | 35.91 | 37.31 | 37.59 | 38.42 | 39.58 | 40.76 |
| Change (%) | -10.85% | -4.47% | -0.74% | - | +2.21% | +5.29% | +8.43% |
| Change | -4.08 | -1.68 | -0.28 | - | +0.83 | +1.99 | +3.17 |
| Level | Intermediate | Minor | Intermediate | - | Minor | Minor | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 33.52 | 34.72 | 36.16 | 37.36 | 38.80 | 40.00 | 41.44 |
| Camarilla | 36.88 | 37.13 | 37.37 | 37.61 | 37.85 | 38.09 | 38.34 |
| Woodie | 33.65 | 34.78 | 36.29 | 37.42 | 38.93 | 40.06 | 41.57 |
| Fibonacci | 34.72 | 35.73 | 36.35 | 37.36 | 38.37 | 38.99 | 40.00 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 32.24 | 35.29 | 37.52 | 40.57 | 42.80 | 45.85 | 48.08 |
| Camarilla | 38.30 | 38.78 | 39.27 | 39.75 | 40.23 | 40.72 | 41.20 |
| Woodie | 31.83 | 35.09 | 37.11 | 40.37 | 42.39 | 45.65 | 47.67 |
| Fibonacci | 35.29 | 37.31 | 38.55 | 40.57 | 42.59 | 43.83 | 45.85 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 11.69 | 19.46 | 26.30 | 34.07 | 40.91 | 48.68 | 55.52 |
| Camarilla | 29.13 | 30.47 | 31.81 | 33.15 | 34.49 | 35.83 | 37.17 |
| Woodie | 11.24 | 19.23 | 25.85 | 33.84 | 40.46 | 48.45 | 55.07 |
| Fibonacci | 19.46 | 25.04 | 28.49 | 34.07 | 39.65 | 43.10 | 48.68 |
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): | 54.86 | |
| MACD (12,26,9): | 0.0300 | |
| Directional Movement: | -1.71 | |
| AROON (14): | -28.57 | |
| DEMA (21): | 37.33 | |
| Parabolic SAR (0,02-0,02-0,2): | 37.98 | |
| Elder Ray (13): | 0.11 | |
| Super Trend (3,10): | 36.73 | |
| Zig ZAG (10): | 37.74 | |
| VORTEX (21): | 0.9600 | |
| Stochastique (14,3,5): | 57.40 | |
| TEMA (21): | 37.50 | |
| Williams %R (14): | -30.18 | |
| Chande Momentum Oscillator (20): | -0.31 | |
| Repulse (5,40,3): | 1.4800 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0100 | |
| Courbe Coppock: | 0.43 |
| MA7: | 39.09 | |
| MA20: | 38.32 | |
| MA50: | 36.04 | |
| MA100: | 34.04 | |
| MAexp7: | 37.41 | |
| MAexp20: | 37.34 | |
| MAexp50: | 37.56 | |
| MAexp100: | 38.16 | |
| Price / MA7: | -3.84% | |
| Price / MA20: | -1.91% | |
| Price / MA50: | +4.30% | |
| Price / MA100: | +10.43% | |
| Price / MAexp7: | +0.48% | |
| Price / MAexp20: | +0.67% | |
| Price / MAexp50: | +0.08% | |
| Price / MAexp100: | -1.49% |
Quotes :
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Real time data
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This member declared not having a position on this financial instrument or a related financial instrument.
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