Avalanche Price Prediction: AVAX/USD Dips Below $13.0 Level
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Avalanche Price Prediction – July 12
The Avalanche price is back under $13 after losing an important trend line that has supported the cryptocurrency’s uptrend.
AVAX/USD Long-term Trend: Bearish (Daily Chart)
Key levels:
Resistance Levels: $16.50, $17.50, $18.00
Support Levels: $10.00, $9.50, $9.00
After losing momentum above $13.00, AVAX/USD is facing another decline as the coin crosses below the 9-day moving average. The Avalanche price is trading below the $13.00 support level. However, the Resistance above $13.36 proves to be strong for bulls to break, as bears are now pushing the price per coin back down to retest support lower.
Avalanche Price Prediction: Would Avalanche Go Down?
Despite the risk of crossing below the 9-day moving average, that doesn’t necessarily mean a downtrend will begin, or that the greater bull market is immediately over. The Avalanche price may follow a sharper uptrend line at one point, and although the 9-day MA is still above the 21-day MA, therefore, no dramatic downside has ever materialized.
Moreover, if the bulls push the coin above the upper boundary of the channel, the first level of resistance could be located at $13.50. A sustainable move above $14.00 is needed for the upside to gain traction, while the next important resistance may come at $14.50. Further resistance levels could be located around $16.50, $17.00, and $17.50 while the critical supports lie at $10.00, $9.50, and $9.00 as the technical indicator Relative Strength Index (14) moves to cross below the 50-level.
AVAX/USD Medium-Term Trend: Ranging (4H Chart)
Looking at the 4-hour chart, the bears are coming back into the market as the 9-day MA remains below the 21-day MA. The break below this crucial barrier causes the coin to plunge as low as $12.90. Meanwhile, unless the king coin recaptures $13.00 in the near term, the bears could have the upper hand over the bulls, and AVAX/USD may soon reel significantly lower.
However, any further bearish movements could see the support level of $12.00 and below. Meanwhile, as the technical indicator, Relative Strength Index (14) moves below the 50-level, more bearish signals could bring the price below the lower boundary of the channel. On the contrary, a bullish cross above the moving averages may hit the resistance level at $14.00 and above.
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