Avalanche (AVAX/USD) Market Shows Signs of Bullish Momentum Amid Strong Support
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Avalanche Price Prediction – October 31
AVAXUSD market shows signs of bullish momentum amid strong support. The retraction from the bullish order block is likely to expand to the invalidation of the $30.860 swing high.
The AVAXUSD daily chart reveals a bullish crossover in the moving averages, with the 9-day moving average positioned above the 21-day moving average. This crossover supports the current upward trend, as the pair is pushing past resistance levels. The Stochastic RSI is also in a bullish setup, hovering near the 50 level with a potential upward movement. This suggests increased buying pressure, indicating that AVAXUSD may maintain its bullish momentum.
AVAX/USD Market Key Levels
Resistance: $30.860, $33.020, $37.190
Support: $21.840, $15.570, $11.860
AVAX/USD – Daily Chart
The daily chart for AVAXUSD shows that the price still remains strongly bullish as it aims to break major resistance at $33.020.
AVAXUSD is about to experience a break of structure (BOS) around the $30.86 level, confirming the bullish trend shift. The price clearly bounced off the clear order block (OB), which has held strong support. With multiple higher lows following the market structure shift (MSS), the pair shows signs of a sustainable uptrend.
What is the projection for AVAXUSD market?
Looking forward, if AVAXUSD continues to gather buying interest, it may target the next major resistance level at $33.020. Should this level be breached, the price could aim for $37.190 and potentially reach $41.780 in the longer term. However, if bearish pressure reemerges, the price may revisit the bullish order block before resuming its upward trend.
AVAX/BTC Price Analysis
The AVAXBTC daily chart shows signs of potential bullish momentum. The pair recently bounced off a strong support level around 0.0003770 BTC, with an order block (OB) providing additional support.
The moving averages are nearing a bullish crossover, indicating possible upward movement. If the price breaks the 0.0004220 BTC resistance level, it may target the next significant level at 0.0004790 BTC.
Avalanche (AVAX) Current Statistics
The current price: $26.610
Market Capitalization: $10,840,000,000
Trading Volume: $269,160,000
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