Avalanche Price Prediction: AVAX/USD Stays Above $57 Level
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Avalanche Price Prediction – March 5
The Avalanche price prediction shows that AVAX escalates, but a break above $57 may pull the coin toward $60 in the coming trading sessions.
AVAX/USD Long-term Trend: Bullish (Daily Chart)
Key Levels:
Resistance levels: $68, $70, $72
Support levels: $42, $40, $38
AVAX/USD is currently trading around the resistance level of $56.47 after touching the daily high of $57.18 in the early hours of today. However, this could easily pave the way for gains above $58 and toward $60. Therefore, if the 9-day moving average remains above the 21-day moving average, the market may show that the bullish grip may be getting stronger.
Avalanche Price Prediction: Avalanche (AVAX) May Go Higher
The Avalanche price is currently holding the ground above the 9-day and 21-day moving averages after a major recovery from $48.29. This shows that buyers may begin to have the upper hand in the price movement, and they could easily push the coin toward the potential resistance of $68, $70, and $72. In other words, if the buying action fails to break above $57, then AVAX/USD could instead settle for consolidation.
However, it is about time buyers increase their confidence in the recovery because $60 is still achievable. Therefore, if the bears push the coin back below the moving averages, the support levels of $42, $40, and $38 may be reached.
AVAX/USD Medium-term Trend: Bullish (4H Chart)
Looking at the 4-hour chart, the Avalanche price faces the upside, but the 9-day MA is likely to cross below the 21-day MA. Meanwhile, if the market price eventually moves near the upper boundary of the channel, traders might expect a long-term bullish movement.
In other words, any bearish movement toward the lower boundary of the channel may likely meet the major support at $50 before falling to $45 and below while the buyers may need to push the market to the potential resistance at $68 and above if the bulls increase the pressure to give more bullish signals.
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