Polkastarter (POLS) and Avalanche (AVAX) Technical Analysis: What to Expect?
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Polkastarter (POLS) and Avalanche (AVAX) Technical Analysis: What to Expect?

May 13, 2021      Dalmas Ngetich

Avalanche and Polkastarter prices are under bear pressure and may sell off in days ahead. As such, AVAX/USDT and POLS/USDT sellers may push prices to $23 and $2, respectively.

Polkastarter (POLS)

Polkastarter is an easy-to-use launchpad on Polkadot. Here, projects would easily access cross-token pools and auctions in a platform primed by POLS.

Past Performance for POLS

Polkastarter’s technical analysis points to weakness and sellers pressing lower.

On the last day, POLS prices are down 10 percent versus the greenback and stable against BTC and ETH.

At the same time, the average daily trading volumes stand at around $53 million.

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Day-Ahead and What to Expect

POLS is changing hands at $2.73, down but within a wider $0.32 range.

In the past 24 hours, prices are within $2.63 and $3.21, in a downtrend inside a descending channel.

Technically, the upper and lower trend lines defining POLS/USDT price action.

A breakout in either direction could trigger the influx or dump of POLS.

POLS/USDT Technical Analysis

Polkastarter Price Daily Chart for May 13

From POLS/USDT price action, every pullback towards the middle BB and $3.5 may be an unloading opportunity for sellers.

Following a break below the 20-day moving average and a distinguishing bear bar, bears are in control. The first bear target is $2.

A close above the resistance trend line may see POLS/USDT race to $5 if prices bottom up.

Avalanche (AVAX)

Avalanche is a tailored blockchain for launching DeFi services and financial assets. Its native currency is AVAX.

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Past Performance of AVAX

From the daily chart, AVAX/USDT is in range mode, boxed within a $17 zone with support and resistance at $23 and $40, respectively.

AVAX technical analysis indicates bulls. Although AVAX is down 15 percent, it is stable versus BTC and ETH.

At the same time, rejection of lower lows is with relatively high participation levels.

On the last day, trading volumes rose 94 percent to $730 million.

Day-Ahead and What to Expect

AVAX remains bullish. Even though there is contraction, every low above $23 may be a buying zone for bulls.

However, a clear trend would develop once AVAX/USDT prices break above or below $40 and $23.

AVAX/USDT Technical Analysis

AVAX Price Daily Chart for May 13

Overly, the crypto market is dumping down.

Two consecutive bear bars representing the state of the AVAX market is enough testament. In trend continuation, sellers may unload on pullbacks if prices close below the middle BB. The first target will be at $23.

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A sharp reversal, unwinding May 12 losses may be the impetus for a close above $40.

Therein, the first bull target will be $60—or February 2021 highs.

#Avalanche #AVAX #AVAX/USDT #DeFi #Polkastarter #POLS #POLS/USDT
Dalmas Ngetich
Dalmas Ngetich

Dalmas has been passionate about the blockchain and crypto space ever since he’s heard about it. As someone who’s been closely following the trends in the crypto space, Dalmas is excited about what lies ahead in this niche and is all set to explore it. While he’s been advocating crypto adoption for a number of years, he’s himself a HODLer, which makes his voice authoritative and credible.