Avalanche Price Prediction: AVAX Remains Indecisive; Price Stays Below $10.0
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AVAX Price Prediction – September 3
The Avalanche price prediction reveals that AVAX may recover its loss but find it difficult to cross the $10.0 price mark.
AVAX/USD Long-term Trend: Ranging (1D Chart)
Key Levels:
Resistance levels: $12.0, $13.0, $14.0
Support levels: $8.0, $7.0, $6.0
AVAX/USD could rise above the 9-day and 21-day moving averages to touch the resistance level of $11.0. Currently, bears seem to be coming back into the market but the main question now is when will AVAX move to the profit zone? It seems that traders might have to bear some patience to enjoy some returns in the market.
Avalanche Price Prediction: What to Expect from Avalanche
Looking at the daily chart, the Avalanche price could face the upper boundary of the channel in other to build an additional upside momentum by gaining traction with the next focus at $10.0, which could be followed by psychological $12.0, $13.0, and $14.0 resistance levels. On the downside, the initial support may be located at $8.0, $7.0, and $6.0 if the bears step back into the market. Meanwhile, the market may continue to move sideways as the technical indicator Relative Strength Index (14) moves in the same direction below the 40-level.
AVAX/USD Medium-term Trend: Ranging (4H Chart)
On the 4-hour chart, AVAX/USD is changing hands at $9.9 and it is likely to cross above the 9-day and 21-day moving averages. The technical indicator Relative Strength Index (14) suggests that the price may continue with sideways movement as the signal line remains above the 40-level. Meanwhile, any bullish cross above the upper boundary of the channel may reach the resistance level at $11.0 and above.
However, if the sellers hold the price and bring it beneath the current price of $9.91, the next support level could be located below the moving averages and more support is found at $9.0 and below. However, the trading volume is seen fading out while the 9-day MA moves under the 21-day MA.
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