Avalanche (AVAX/USD) Market Resumes Bearish Momentum As Supports Fail
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Avalanche Price Prediction – March 4
The AVAX market resumed bearish momentum as a major support failed. Selling pressure from the $24.430 bearish order block further sponsored the bearish move.
The Moving Average Convergence Divergence (MACD) indicator at the bottom of the chart shows a bearish trend, with the MACD line below the signal line and negative histogram bars indicating weak bullish momentum. The 9-day Simple Moving Average (SMA) is also trending downward, reinforcing the overall bearish sentiment. The price is currently testing the SMA as resistance, which suggests that any upward movement may face selling pressure around $22.030.
AVAX/USD Market Key Levels
Resistance Levels: $33.020, $45.050, $55.860
Support Levels: $22.030, $21.490, $17.280
AVAX/USD – Daily Chart
AVAX/USD – Daily ChartThe daily chart for AVAXUSD indicates that the market is extremely pessimistic since the bulls were unable to seize market dominance.
Price action confirms the bearish structure, with multiple Break of Structure (BOS) points signaling downward momentum. A key rejection from the order block (OB) near $24.430 has led to a price drop, indicating strong supply at that level.
The market previously showed a Market Structure Shift (MSS) before breaking lower, and another BOS recently occurred around $21.490, strengthening the bearish case. The price is currently hovering near this level, and a rejection here could confirm further downsides.
What is the projection for the AVAXUSD market?
Given the current bearish structure and lack of strong bullish momentum, AVAXUSD is likely to continue its downtrend. If the price fails to reclaim $22.030, the next major support levels to watch are $21.490 and $17.280. A clean break below $21.490 could accelerate the decline, potentially reaching these lower levels.
AVAX/BTC Price Analysis
AVAX/BTC Price AnalysisThe MACD histogram is weak, and the signal line remains below zero, confirming bearish momentum. Price has broken below key support at 0.0002520 BTC and is struggling to reclaim it, suggesting continued downward pressure.
A failed breakout at the 0.0002720 BTC level will indicate a buy-side liquidity grab, reinforcing the bearish trend. If sellers maintain control, AVAXBTC is likely to drop toward the next support at 0.0002010 BTC.
Avalanche (AVAX) Current Statistics
The current price: $21.860
Market Capitalisation: $9,060,000,000
Trading Volume: $620,990,000
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