Avalanche (AVAX/USD) Market Remains in a Bearish Trend with Potential Retracement Upward
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Avalanche Price Prediction – March 13
Avalanche market remains in a bearish trend with potential retracement upward. The mitigation block is likely to truncate the upward retracement.
With the MACD line (-2.08) below the signal line (-2.33), indicating downward momentum, the Moving Average Convergence Divergence (MACD) indicator is in negative territory. Furthermore, the histogram stays negative, suggesting that selling pressure is still present. The negative attitude is further supported by the dynamic barrier of the 9-day Simple Moving Average (SMA) around $19.550. Despite brief pullbacks, the price is still trading below this SMA, indicating further downward pressure.
AVAX/USD Market Key Levels
Resistance Levels: $33.020, $45.050, $55.860
Support levels: $21.490, $17.280, $8.620
AVAX/USD – Daily Chart
The daily chart for AVAXUSD shows that the overall trend is bearish.
Price action confirms a bearish structure, as the market previously broke below key support at $21.490, leading to a strong move downward. A Break of Structure (BOS) is evident, followed by a rejection from a bearish Order Block (OB) near $21.490, which caused further selling pressure.
The price is currently around $17.480, testing support at $17.280, a crucial level to watch. If buyers fail to hold this level, the next support at $8.620 may come into play.
What is the projection for the Avalanche market?
A short-term retracement toward the $21.490 region is possible, where a Mitigation Block (MB) lies. If the price fails to break above this resistance, the bearish trend is likely to continue, with a further drop below $17.280.
AVAX/BTC Price Analysis
AVAX/BTC Price AnalysisWith the AVAXBTC pair trading below the 9-day SMA at 0.00022860 BTC, which serves as dynamic resistance, it is still in a strong negative trend. Both the MACD and signal lines are below zero, indicating that the MACD indicator is in negative territory and that the downward momentum has been sustained.
Price recently broke below the key support level at 0.00023710 BTC and is now testing 0.00021440 BTC, with further downside potential. If sellers maintain control, the next major support lies at 0.00019400 BTC, and a break below this level could lead to 0.00013160 BTC.
Avalanche (AVAX) Current Statistics
The current price: $17.480
Market Capitalisation: $7,640,000,000
Trading Volume: $416,400,000
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