Going long on AVAX? Consider this ‘catch' before you jump in

AVAX rallied on the daily chart with a possible MACD crossover. The upside breakout from the bullish wedge has a target between $15.5 and $16.0. However, the price-volume divergence could cause a price reversal.

Timeline of Avalanche

Avalanche price analysis is bullish for today as the bullish momentum had inflated the price level to $12.53, a significant increase from yesterday's trading range of $12.15. The next resistance level for AVAX/USD is at $12.85, and this will likely be the target for bulls over the coming days.

Avalanche's cumulative daily transaction record increased by 1,507% as compared to 2021 The price of AVAX witnessed a divergence from the uptrend in transaction volume Despite being in the midst of a crypto winter, Avalanche [AVAX] seems to be doing pretty well for itself.

Some cryptocurrencies, including Avalanche (AVAX), saw modest gains even as the overall market suffered from a prolonged downturn. To date, AVAX TVL has gone up from 120.11 million to 123.7 million, an increase of approximately 3% as of press time.

Avalanche price analysis is showing that the price is covering downward movement once again. The bulls have failed to survive the bearish pressure and the price has declined for today as well.

 Avalanche's TVL reached 270,611,568 AVAX  Metrics also favored an optimistic outlook for AVAX After weeks of decline, Avalanche's [AVAX] total value locked (TVL) finally registered an uptick. This could be considered as an optimistic update for the blockchain.

Avalanche price analysis suggests a bearish trend for today and supports sellers as the price has undergone a considerable decrease since morning. Although the bulls were in the winning position earlier, they were not able to sustain their momentum and AVAX prices plummeted to the support level of $12.60.

The most recent Avalanche price analysis shows bearish results as the price underwent losses again. The price has decreased up to $12.71, continuing the downtrend that started on the 18th of November.

The coin's price has risen today, according to Avalanche price analysis, because the bulls prevented the market from falling below the $12.78 level. The price has increased as a result of the bullish side's steadfast efforts since the start of the trading session and is currently trading at the $13.13 level.

Avalanche has been highlighting its preparedness for more demand as self-custody gains popularity AVAX's short-term demand still showing signs of low stimulation The DeFi space is heating up now that recent events have exposed cracks in the crypto-market's centralized finance segment.

Avalanche's TVL continued to decrease  The on-chain metrics looked bullish, except for development activity  Avalanche [AVAX] has been witnessing a sharp decline in its Total Value Locked (TVL) over the past few weeks. According to a tweet from AVAX Daily, a popular Twitter handle that posts updates about the Avalanche ecosystem, AVAX registered a 27.