Avalanche (AVAX/USD) Market Exhibits Renewed Bearish Momentum Below Critical Resistance Zones
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Avalanche Price Prediction – June 17
AVAXUSD market exhibits renewed bearish momentum below critical resistance zones. The AVAXUSD pair continues to exhibit a sustained bearish trajectory, as reflected in both price action and technical indicators.
The Moving Average Convergence Divergence (MACD) is entrenched below the signal line, with its histogram maintaining negative territory. The 9-period Simple Moving Average (SMA), currently trending downward at $20.60, reinforces bearish market sentiment as price remains firmly beneath it. With successive lower highs and failed breakouts above short-term resistance, bearish control remains intact, and buyers appear unable to reclaim dominance.
AVAX/USD Market Key Levels
Resistance: $25.000, $26.550, $33.020
Support: $17.280, $12.500, 8.620
AVAX/USD – Daily Chart
The daily chart for AVAXUSD shows a continued crash as selling momentum increases.
From a structural standpoint, price action confirms a market shift characterized by a clear Market Structure Shift (MSS) and rejection from an Order Block (OB) around the $21.30 resistance zone. This confluence led to a sharp retracement, creating an imbalance above $20.30 that remains unmitigated. The bearish engulfing formation near the OB further validated the downside bias, reinforcing the supply pressure around the $21.00 zone.
What is the projection for AVAXUSD market?
Looking ahead, the projected path suggests a short-term pullback into the $20.560 bullish order block, followed by a breakout above the trendline. Once this resistance is breached, the next major target lies at $26.550, with further potential to reach $33.020. The bullish outlook remains valid as long as price sustains above the $19.070 support zone.
AVAX/BTC Price Analysis
Forward-looking, AVAXUSD is expected to extend its downward leg toward the $17.30 support level, with an intermediate target at $18.00. Should bearish pressure persist and $17.30 break convincingly, the next viable liquidity pool rests near $12.50.
Broader bearish continuation remains plausible, with $8.60 marking a potential longer-term downside objective if macroeconomic or sector-specific catalysts amplify risk-off sentiment. Any bullish attempt will require price to reclaim and close above $20.60 with strength to invalidate this bearish bias.
Avalanche (AVAX) Current Statistics
The current price: $18.830
Market Capitalisation: $7,970,000,000
Trading Volume: $352,910,000
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