Avalanche Price Prediction: AVAX/USD Trading Near $37
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Avalanche Price Prediction – April 20
Based on the daily chart analysis, AVAX bulls are showing signs of a resurgence following a bearish session.
AVAX/USD Long-term Trend: Ranging (Daily Chart)
Key Levels:
Resistance: $55, $60, $65
Support: $20, $15, $10
As of the time of writing, AVAX/USD is at $36.80. The coin is currently edging above the 9-day moving average, indicating bullish activity. While the overall trend remains range-bound, an upward trajectory is possible if buying pressure persists.
Avalanche Price Prediction: Will AVAX Head Higher?
AVAX is likely to breach the 9-day and 21-day moving averages around the $36.80 resistance level. However, the 9-day MA’s positioning below the 21-day MA could impede significant upward movement, potentially pushing the coin below the lower boundary of its current range.
Recovery may face hurdles, particularly around the $35 mark. Conversely, sustained bullish momentum could lead AVAX to test resistance levels at $55, $60, and $65. Conversely, a sharp market downturn would find critical support at $20, $15, and $10.
AVAX/USD Medium-term Trend: Bearish (4H Chart)
On the 4-hour chart, AVAX/USD appears to be consolidating within a downward channel. Despite touching a daily high of $36.87 above the 9-day and 21-day moving averages during the European session, a single robust support level is observable at $30, with potential support further down at $28.
The 9-day MA remains above the 21-day MA, suggesting a possible upward trajectory. Should AVAX break above the upper boundary of its channel, resistance levels at $45 and beyond could be tested.
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