Avalanche (AVAX/USD) Market Faces Rejection After Test of Supply Zone
Estimated Reading Time: 2 minutes
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
Avalanche Price Prediction – April 29
AVAXUSD market faces rejection after test of supply zone. The rejection looms as price redistributes at the premium zone.
AVAXUSD is trading just above the 9-day Simple Moving Average (SMA), currently at $21.650, signaling short-term bullish momentum within a broader bearish trend. The Stochastic Oscillator is in the overbought region (81.26 and 78.94), suggesting a potential reversal or exhaustion of buying pressure. These overbought conditions, especially near a key resistance zone, support the bearish outlook for this pair.
AVAX/USD Market Key Levels
Resistance: $21.670, $26.550, $33.020
Support: $21.490, $17.280, $12.500
AVAX/USD – Daily Chart
The daily chart for AVAXUSD indicates that a bearish continuation is highly probable.
Price action shows that AVAXUSD recently retested the $21.670 bearish order block (OB), marked by previous strong rejections, and failed to close convincingly above it. This resistance area coincides with previous supply zones and aligns with a bearish market structure. Despite attempts at recovery, AVAXUSD remains capped below $26.550, reinforcing the validity of the bearish setup.
What is the projection for AVAXUSD market?
The projection for AVAXUSD remains bearish as long as the price holds below $21.670. A strong rejection from this zone could trigger a sell-off toward the $21.490 and $17.280 support levels. If momentum intensifies, the next downside target lies around $12.500, completing the anticipated bearish swing.
AVAX/BTC Price Analysis
AVAXBTC remains in a bearish structure, consistently forming lower highs and lower lows. Price is currently struggling below the 0.0002450 resistance, with multiple rejections near the order block (OB) zone.
The 9-day SMA is acting as dynamic resistance, keeping downward pressure intact. A break below the 0.0002340 support could open the path to 0.0002010 and lower.
Avalanche (AVAX) Current Statistics
The current price: $23.230
Market Capitalisation: $9,180,000,000
Trading Volume: $319,350,000
Place winning AVAX/USD trades with us. Get AVAX here
