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The Avalanche crypto price rose more than 1% in the past 24 hours to trade at $33.78 at press time.
AVAX’s slight uptick in price comes after Avalanche announced its integration with fintech giant Stripe. Through this partnership, users of the ecosystem’s native Core wallet can seamlessly send funds to their wallets.
Stripe's expansion into crypto continues, today integrating Avalanche & Core to provide easier access to Web3 🔺US users can purchase $AVAX directly thru Stripe without using an exchange 🔺Avalanche apps can embed Stripe’s onramp via customizable widget https://t.co/NIBEfQUWuP — Avalanche 🔺 (@avax) April 29, 2024
These users will also be able purchase AVAX without needing to use an exchange platform, as well as easily interact with all of the dApps available within the Avalanche ecosystem.
Avalanche Crypto Price Overview
4-hour chart for AVAX/USDT (Source: TradingView)
In recent trading sessions, the Avalanche crypto price has shown a mix of slight upticks and downtrends, as reflected in the closing prices from $34.63 to $33.86. Technical indicators on the 4-hour chart suggest a tentative balance between buyers and sellers with potential key movements around established support and resistance levels.
The 9 Exponential Moving Average (EMA) initially rose from $34.22 to $34.56, indicating a mild bullish sentiment, before slightly retreating to $34.42 in the latest session. This movement near the 20 EMA, which has hovered more steadily around $34.58 to $34.58, presents a converging scenario suggesting that AVAX is stabilizing after recent fluctuations. The price residing below both EMAs as of the latest data point, especially under the key resistance at $35.01, hints at bearish pressure.
The Moving Average Convergence Divergence (MACD) shows a narrowing of negative momentum, as the MACD line moves closer to the signal line from -0.498 to -0.311. This closing gap, reflected in the positive histogram values from 0.102 to 0.121, suggests a potential for reversal or slowdown in the downward trend.
The Relative Strength Index (RSI), after peaking at 53.63, has declined to 42.38, moving towards oversold territory. This could indicate a strengthening bearish momentum or a potential pivot point if the market perceives AVAX as undervalued.
Key Levels to Watch
Looking ahead, AVAX faces immediate resistance at $35.01 and a stronger barrier at $35.42. A breakout above these levels could encourage a bullish trend continuation, potentially targeting higher resistances. On the downside, support is found at $33.31 and further at $33.20. A breach below these supports might accelerate selling pressure, with $32.94 as an additional crucial level to watch.
Traders might consider long positions if AVAX sustains above $35.01, using $33.31 as a stop-loss marker. Conversely, a short strategy could be viable if the price breaks below $33.20, with potential exits near the $32.94 level. Both strategies should monitor volume and RSI for confirmation of momentum.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Ecoinimist is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
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