Avalanche Price Prediction: AVAX Bulls May Boost Prices Higher
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Avalanche Price Prediction – September 19
In this analysis, we observe that the short-term and medium-term outlook for Avalanche lacks substantial support. Nevertheless, should the price surge further, it may encounter resistance.
AVAX/USD Market
Key Levels:
Resistance levels: $11.0, $11.5, $12.0
Support levels: $7.5, $7.0, $6.5
As of the current moment, AVAX/USD is trading near the $9.50 resistance level. However, the coin remains positioned below both the 9-day and 21-day moving averages. Yet, if bullish momentum propels the market price above the 9-day moving average, it can anticipate the nearest resistance around $10.0. Furthermore, an upward movement may encounter additional resistance above the 21-day moving average.
Avalanche Price Prediction: Potential Upside Breakout for Avalanche (AVAX)
At present, traders may discern the likelihood of Avalanche’s price establishing more bullish trends once the prevailing bearish phase concludes. This prospect becomes evident as the Relative Strength Index (RSI) with a period of 14 shifts out of the oversold region.
Upon analyzing the daily chart, it is evident that the market rebounded from the $9.0 low below the 9-day moving average. However, a sustained bearish movement below this threshold could lead to a significant downtrend. Support levels for the coin are situated at $7.5, $7.0, and $6.5, while resistance levels are identified at $11.0, $11.5, and $12.0 respectively.
AVAX/USD Medium-term Trend: Ranging (4H Chart)
Looking at the 4-hour chart, the range’s support level is solidly established at $9.19, with resistance defined at $9.25 due to the coin’s continued trading below the 21-day moving average. From a technical perspective, the price is engaged in lateral movement within this channel, coinciding with the Relative Strength Index (RSI) at 14, which is moving below the 50-level.
Nonetheless, if Avalanche’s price slides beneath the 9-day and 21-day moving averages, AVAX/USD might approach the lower boundary of the channel, targeting the support level of $8.70 and below. On the contrary, a bullish breakthrough above the upper boundary of the channel could pave the way for a fresh upward trend, potentially targeting resistance levels at $9.70 and above.
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