Avalanche (AVAX/USD) Market Continues Downward
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Avalanche Price Prediction – June 18
AVAXUSD market continues downward as the price keeps invalidating major supports. A successful breakout from the $27.20 support is likely to sink the price lower into the discount zone.
The SMA (Simple Moving Average) with 9 days is now higher than the price, indicating a negative trend. Furthermore, the MACD (Moving Average Convergence Divergence) indicator displays negative signs; the MACD line is below the signal line, and both are going downward, accompanied by expanding red histogram bars. This arrangement frequently indicates that bearish momentum is gathering strength.
AVAX/USD Market Key Levels
Resistance: $39.90, $50.00, $65.40
Support: $30.60, $27.20, $18.90
AVAX/USD – Daily Chart
The daily chart for the AVAX/USD market shows that the market has continued downward as the price keeps invalidating major supports.
AVAX/USD has been seeing a sequence of lower highs and lower lows, which suggests a negative trend when analyzing the market action. The price just attempted to close below $27.20, a crucial support level.
High selling volume followed the breakthrough, which strengthened the negative outlook. In addition, a rising trendline that had previously offered support has been broken by the price, indicating a change in market sentiment from bullish to negative.
What is the medium-term projection for the AVAXUSD market?
AVAX/USD is probably going to keep falling given the present negative signs and market behavior. The price may enter the discount range at the psychological $24.00 level if it is unable to respect the $27.20 support level.
AVAX/BTC Price Analysis
The market’s order flow for AVAXBTC is negative. Not too long after the $0.0004750 swing low was successfully invalidated, there was a BOS (Break Of Structure).
The price moves in fractals as more bears keep storming the market from the premium zone. More crashes to the downside are expected, with 0.000300 as a close target.
Avalanche (AVAX) Current Statistics
The current price: $26.60
Market Capitalization: $10,160,000,000
Trading Volume:$434,220,000
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