AVAX is trading in the $15 price range today, continuing its week’s price volatility. The bears seized control of its price action from April 19, 2023, forcing it down to $18.99. Since then, AVAX’s volatility has placed it between $17 and $15 as the bulls seek to regain control.
Notably, its trading volume is up by 34.13% in the last 24 hours despite the price fluctuations in the market today. It also recorded price gains earlier today, May 9, before dipping again by over 3%.
AVAX Price Analysis
AVAX has resumed a downtrend as the bears and bulls compete to control the market. It is trading below its 50-day and 200-day Simple Moving Averages (SMA), with bearish sentiment in the short and long term.
Related Reading: Bitcoin To Drop Further? Whales Show Signs Of Dumping
Also, the Relative Strength Indicator (RSI) is 35.84, close to the oversold region of 30 and bearish. However, the RSI’s direction is sideways, suggesting that the bears and bulls are even.
AVAX’s Moving Ave
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