Avalanche, Algorand, NEAR Price Analysis – March 18, 2022

The past few days saw Avalanche recording impressive gains, climbing towards a supply zone. AVAX might retest the former resistance mark at around $77.3 in the coming hours. NEAR kept its price actions within a range in March, whereas Algorand contemplates a higher move following recent buying pressure.

Avalanche (AVAX)

Avalanche trades inside a descending channel some days ago before breaking out to explore the supply territory at $81. The region has been significant for AVAX in the past. For instance, the alternative token tested the support of $85 after overcoming this area in early February. The alt slumped lower again, retesting $82 before skyrocketing towards the $94 highs within 72 hours. Avalanche might experience similar price actions if it rises above the $82 level and converts it into demand.

Near Protocol (NEAR)

NEAR’s Value area stayed inside the $9.65 – $11.8 range. That’s according to the Volume Profile Visible indicators. This price range has been critical for the altcoin throughout March. The POC (Point of Control) stood at $10.43, which acted as a massive support zone for Near Protocol besides the mid-range area at $10.72.

The Relative Strength Index rose beyond the neutral level (50) even as the alt rebounded from the Point of Control and pushed beyond $10.7, which suggested that the price might move towards the range peaks again. The Chaikin Money Flow remained in a neutral area, and the indicators rising beyond +0.05 would highlight a bullish push to the range highs of $11.8.

Algorand (ALGO) 

Algorand has exhibited a bearish bias within the previous two weeks as the token formed multiple lower peaks on its charts. Nevertheless, the past few days witnessed ALGO overcoming the bearish structure after breaking the downtrend’s lower high of $0.73.

March 16 sessions saw Algorand setting a higher low near $0.73. The altcoin retained an upward stance since. At the same time, the Relative Strength Index stayed beyond the neutral 50, indicating uptrends in the making. Also, the on-balance volume displayed stable buying momentum, suggesting demand drove the rally.

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