Avalanche (AVAX/USD) Market Shows Bearish Trend With Clear Price Rejections
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Avalanche Price Prediction – February 4
The Avalanche market shows a bearish trend with clear price rejections. Further crashes to the downside remain imminent as the bulls show no sign of interest.
The MACD indicator below zero confirms a bearish momentum, with the signal line crossing below the MACD line, amplifying sell pressure. The 9-day SMA is trending downward at $31.350, suggesting that short-term sentiment aligns with the bearish trend. Momentum indicators further reveal weakening buying strength as the price consistently closes below critical moving averages.
AVAXUSD Market Key Levels
Resistance Level: $33.020, $45.050, $55.860
Support Level: $22.330, $17.280, $8.620
AVAXUSD – Daily Chart
AVAXUSD – Daily ChartThe daily chart for AVAXUSD indicates an increase in the selling pressure as the price barely makes a notable bullish retracement.
Price action reveals a significant break of structure (BOS) near $33.020, signalling a shift from bullish to bearish control. The recent rejection of the $33.550 resistance zone, marked by an order block, highlights an inability to reclaim higher price levels. Additionally, the $26.210 price point, currently acting as support, faces increasing downward pressure, aligning with lower highs and lows.
What Is the Projection for AVAXUSD Market?
Projection suggests continued downside toward $22.330 and potentially $17.280 if the bearish momentum persists. Any retest of the $33.020 resistance could serve as a short-selling opportunity. In the long term, breaching $17.280 may lead to further declines toward $8.620, solidifying the bearish narrative.
AVAX/BTC Price Analysis
AVAX/BTC Price AnalysisAVAXBTC is in a strong bearish trend, as indicated by the downward slope of the price and the 9-day SMA. The pair broke below key support at 0.0003090, signalling increased sell pressure and potential continuation to lower levels.
The MACD (Moving Average Convergence Divergence) histogram shows sustained bearish momentum, with the MACD and signal lines diverging further below zero. Immediate support lies at 0.0002500, while resistance is at 0.0003090, making a retest of this level unlikely in the short term.
Avalanche (AVAX) Current Statistics
The current price: $26.210
Market Capitalisation: $11,000,000,000
Trading Volume: $671,580,000
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