Avalanche (AVAX/USD) Market Signals Bearish Trend Resumption
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Avalanche Price Prediction – August 6
AVAX/USD market signals bearish trend resumption. The recent BOS (Break Of Structure) strengthens the selling momentum as the market’s order flow remains bearish.
The MACD (Moving Average Convergence Divergence) indicator is crossing below the signal line, indicating a bearish crossover. The histogram has also entered negative territory, signifying further bearish momentum. Since the price is trading below the moving average, the downward-sloping SMA (Simple Moving Average) of the previous nine periods is supporting the negative outlook.
Market Key Levels
Resistance: $39.890, $50.000, $65.380
Support: $21.840, $18.930, $15.000
AVAX/USD – Daily Chart
The daily chart for AVAXUSD market signals the resumption of the bearish trend.
AVAX/USD has broken below key support levels, confirming the bearish trend, according to an analysis of the market action. A typical downtrend pattern has been formed by the recent price decrease from the $32.490 level: lower highs and lower lows. A break of structure (BOS) in the price movement at $27.210 indicates a continuation of the bear market.
What is the projection for AVAXUSD market?
After a possible pullback, the forecast for AVAX/USD is negative going forward. The bearish order block zone, located at $27.210, is where the price is likely to retrace and might encounter strong resistance. The price will probably keep going down if it can’t break above this range. The next important support levels to keep an eye on are $15.000 and $18.930.
AVAX/BTC Price Analysis
The AVAXBTC pair is continuously making lower highs and lower lows, indicating a bearish trend. It may yet go lower as it recently fell below a crucial support level around 0.000430.
0.000300 is the next important support level, and it might serve as a goal for this decline. Additionally, the MACD histogram is below the zero line, indicating that the momentum is still quite negative.
Avalanche (AVAX) Current Statistics
The current price: $19.350
Market Capitalization: $8,350,000,000
Trading Volume: $425,460,000
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