Avalanche Price Prediction: AVAX/USD Turns Bearish Below $35 Support
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Avalanche Price Prediction – January 18
The Avalanche price prediction extends the bearish movement to the areas marginally below $34 after numerous trials to sustain gains above $36.
AVAX/USD Long-term Trend: Ranging (Daily Chart)
Key levels:
Resistance Levels: $50, $55, $60
Support Levels: $20, $15, $10
AVAX/USD heads toward $30 as the coin embarked on a support smashing exercise after failing to hold above $36 following a significant breakout in the last few days. Therefore, the bearish control is seen across the market with other major digital assets posting similar losses as they trade below the 9-day and 21-day moving average.
Avalanche Price Prediction: Avalanche (AVAX) May Increase the Bearish Movement
The Avalanche price is hovering at $33.4 with an intraday loss of 7.22%. According to the daily chart, the current trend is bearish with expanding volatility, and the coin is likely to consolidate in a bearish flag pattern. Meanwhile, a breakdown below the lower boundary of the channel may continue in the direction of the previous trend. In this case, AVAX/USD is expected to drop and stay below to hit the critical support levels at $20, $15, and $10.
However, should Avalanche price head toward the upper boundary of the channel; the price could rise to $45 vital resistance. A further bullish drive could push the price to $$50, $55, and $60 resistance levels. The 9-day moving average remains below the 21-day moving average, which shows that the market may follow the downside.
AVAX/USD Medium-term Trend: Ranging (4H Chart)
At the opening of the market today, the Avalanche price remains below the 9-day and 21-day moving averages to continue the downward movement, bringing its price to trade around $32.85. Meanwhile, should the price continue to drop further and cross below the lower boundary of the channel, it could reach the support level of $28 and below.
Moreover, if the bulls push the coin above the 9-day and 21-day moving averages, the Avalanche price could hit the resistance level of $38 and above. Now, the market may continue to move sideways or experience more downtrends as the 9-day moving average stays below the 21-day moving average.
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