Avalanche (AVAX/USD) Market Sets For a Major Retracement
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Avalanche Price Prediction – June 25
AVAX/USD market sets for a major retracement amidst the overall bearish trend. Despite the environment of the market, which is bearish, a major pullback seems inevitable as the market becomes oversold in the discount zone.
The 9-day Simple Moving Average (SMA) is currently around $26.40, with the price trading below it, indicating a bearish trend. The Relative Strength Index (RSI) is at 28.0, which is in the oversold territory, suggesting that the asset might be bullish in the short term, but the prevailing downtrend momentum remains strong.
AVAX/USD Market Key Levels
Resistance: $30.60, $39.90, $50.00
Support: $27.20, $18.90, $15.00
AVAX/USD – Daily Chart
The daily chart for the AVAXUSD market shows that the market is set for a major retracement amidst the overall bearish trend.
AVAXUSD has been in a consistent downtrend, as shown by the descending major trendline. Key resistance levels are at approximately $27.20 and $30.60, which coincide with the order block (OB) zone. The price continued to make lower highs and lower lows, confirming the bearish sentiment.
What is the medium-term projection for the AVAXUSD market?
The projection for AVAX/USD is bearish, aligned with the direction indicated by the arrows. The price is expected to retrace towards the bullish order block before potentially resuming its downtrend. If the price fails to break this resistance, it could continue to drop towards the $20.0 level.
AVAX/BTC Price Analysis
The AVAX/BTC pair is currently in a bearish trend, trading below the 9-day SMA of 0.0004130. The RSI is at 31.3, indicating that the asset is in the oversold territory, which often precedes further upward movement.
The price has consistently made lower highs and lower lows, failing to break above key resistance levels at 0.0004750 and 0.0005810. The bearish projection points to a potential decline towards the support level at 0.000300 if the downward pressure continues.
Avalanche (AVAX) Current Statistics
The current price: $25.20
Market Capitalization: $10,040,000,000
Trading Volume:$303,620,000
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