Avalanche (AVAX/USD) Market Sentiment Strengthens With Support Levels Tested
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Avalanche Price Prediction – January 29
AVAXUSD sentiment strengthens with support levels tested. The market’s overall trend is strongly bearish.
The AVAXUSD daily chart indicates bearish pressure as reflected by the Moving Average Convergence Divergence (MACD), where the MACD line remains below the signal line and in the negative territory, signaling increased selling pressure. Additionally, the 9-day Simple Moving Average (SMA) at $35.670 acts as resistance, with the price consistently trading below this level. This alignment of indicators confirms a bearish outlook for the pair.
AVAX/USD Market Key Levels
Resistance Levels: $43.590, $48.500, $55.860
Support Levels: $33.020, $22.330, $17.280
AVAX/USD – Daily Chart
The daily chart for AVAXUSD shows that the market remains strongly bearish.
AVAXUSD is in a clear downward trend, as the pair moved towards breaking through the major support zone at $330.020. The formation of a bearish order block (OB) below $43.500 adds to the resistance. A Fair Value Gap (FVG) above $43.590 signifies inefficiency, highlighting potential retracements into resistance areas before resuming the downtrend. The Break of Structure (BOS) around $33.600 further confirms the bearish dominance.
What Is the Projection for AVAXUSD Market?
What Is the Projection for AVAXUSD Market?AVAXUSD will probably test the demand zone at $33.020, aligning with the ascending trendline. A failure to hold this level could expose the price to deeper support at $22.330 and potentially $17.280. Conversely, short-term or medium-term pullbacks upward will likely not cross beyond the $48.500 order block at the premium zone.
AVAX/BTC Price Analysis
AVAX/BTC Price AnalysisAVAXBTC is in a clear bearish trend, trading below the 9-day SMA. A bearish order block around 0.00040000 suggests a strong resistance zone limiting upward movement.
The demand zone near 0.00029830 may soon be tested if the bearish pressure persists. MACD remains bearish, with the signal line confirming selling pressure.
Avalanche (AVAX) Current Statistics
The current price: $33.90
Market Capitalisation: $13,320,000,000
Trading Volume: $345,550,000
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