Is Avalanche (AVAX) about to Bounce? RSI Nears Oversold as Price Hits $18.78
- AVAX trading at $18.78, down 6.01%, with trading volume down by 14.96%.
- Analysts signal both short-term bearish and long-term bullish trends.
- Avalanche Card aims to bridge crypto utility gaps in underbanked regions.
AVAX is currently trading at $18.78, down by 6.01% in the past 24 hours. The trading volume has also declined by 14.96%, settling at $250.58 million. The short-term dip notwithstanding, the cryptocurrency has registered a 15.46% seven-day rise, testifying to growing prominence in overall market action.
Technical analysts offer contradicting indications. According to the analyst, AVAX is in the process of developing a descending trendline with lower tops and lower bottoms, which is generally bearish. The most important support is at $18.50, with resistance set at $19.50 to $20.00. The Relative Strength Index, which is approaching oversold levels, might indicate a turn.
Moreover, the MACD oscillator is in bearish momentum but also suggests convergence that may indicate a turn. Traders should look to enter in the area surrounding $18.50, with conservative stop-loss at $17.80.
Conversely, Alpha Crypto Signal highlighted a possible bullish trend. Their high-time frame analysis is indicative of an impending W-reversal pattern, also referred to as a double bottom.
The crucial neckline is around $23, and a breakout beyond this level could signal a significant upward move. Until then, the market appears to be in a corrective phase aligned with broader trends.
AVAX Price Forecast for April 2025
Predictions for AVAX in April of 2025 are still conservative. Changelly experts foresee the price fluctuating from $16.17 to $19.91, with an estimated average of $18.04, which presents an expected ROI of -0.4%.
On an overall yearly basis, Avalanche would exchange in the range of $19.17 to $19.76, at an average price of $20.34, which reflects a slightly possible ROI of -1.1%. The figures highlight guarded hopefulness, which is dependent upon general market rebound as well as ecosystem growth.
Introducing the Avalanche Card for Crypto Payments
In the face of market volatility, Avalanche has rolled out an revolutionary program, the Avalanche Card, in association with Rain. The card is integrated with Visas network, enabling consumers to spend AVAX and other supported assets with all Visa-accepting merchants.
This program will bring together DeFi with traditional finance, particularly in underbanked markets such as Latin America, Nigeria, and Southeast Asia.
The card accepts USDC, USDT, AVAX, and Wrapped AVAX with plans to add more assets in the future. The action reflects Avalanches larger goal of enabling finance with a useful alternative where traditional banking is not available.
As crypto adoption gains momentum in emerging markets where millions are unbanked, the Avalanche Card can provide an essential means of inclusive engagement in finance.
Read more: https://www.tronweekly.com/is-avalanche-avax-about-to-bounce-rsi-nears-oversold-as-price-hits-18-78/
Text source: TronWeekly
