Avalanche Price Prediction: AVAX/USD Price Battles with $48
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Avalanche Price Prediction – April 3
The Avalanche price prediction may likely spread the bearish move below $46 after numerous attempts to hold gains above $48.29.
AVAX/USD Long-term Trend: Bullish (Daily Chart)
Key levels:
Resistance Levels: $60, $65, $70
Support Levels: $35, $30, $25
AVAX/USD slides below $47 as the cryptocurrency failed to hold above $48 following a significant breakout during the European session today. However, the bearish control has been seen across the market, with other major digital assets seeing similar losses when trading below the 9-day and 21-day moving averages.
Avalanche Price Prediction: Can AVAX Price Go Lower?
The Avalanche price is trading at $46.83 with a slight loss of 0.01%, the coin is likely to follow the bearish movement if the seller increase the selling pressure. AVAX/USD is currently facing the south and a breakdown of this pattern toward the lower boundary of the channel is expected to continue. In the meantime, AVAX/USD is expected to fall and stay below the 9-day and 21-day moving averages which could hit the critical support levels at $35, $30, and $25.
Nevertheless, if the Avalanche price crosses above the moving averages; the price could rise to the vital resistance of $50 while a further bullish drive could take the coin to the resistance levels of $60, $65, and $70 respectively. Moreover, the 9-day MA crosses below the 21-day MA, showing that more bearish movements may play out within the market.
AVAX/USD Medium-term Trend: Bearish (4H Chart)
As the market opens today, the Avalanche price touches the daily low of $45.20, but now hovering around $46.70. Should the price drop further below the lower boundary of the channel, it could hit the next level of support at $42 and below.
However, if the bulls push the coin toward the upper boundary of the channel, the Avalanche price could hit the potential resistance level of $53 and above. For now, the market may continue to experience a downtrend as the 9-day MA remains below the 21-day MA.
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