Avalanche (AVAX/USD) Market Shows Bearish Signals With Declining Price Momentum
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Avalanche Price Prediction – January 23
Avalanche AVAXUSD shows bearish signals with declining price momentum. The bearish trend resumes following the retraction from the bearish order block. The MACD (Moving Average Convergence Divergence) indicator shows a bearish crossover, with the signal line positioned above the MACD line and momentum pointing downward. Additionally, the SMA (9) at $38.140 reflects bearish pressure as the price remains below this moving average. These signals suggest weakening bullish momentum and a shift towards increased selling pressure.
AVAX/USD Market Key Levels
Resistance: $43.590, $55.860, $65.380
Support: $33.020, $22.330, $17.280
AVAX/USD – Daily Chart
The daily chart for AVAXUSD reveals a bearish trend continuation as the price retracted downward.
Price action indicates a rejection from the $43.590 resistance level, followed by a break below $38.140, signalling bearish dominance. The chart reveals a “Break of Structure” (BOS) around $33.660, confirming sellers’ control. Previous attempts to rally into the Fair Value Gap (FVG) and Order Block (OB) zones were rejected, reinforcing the downward bias.
What is the projection for the AVAXUSD market?
What is the projection for the AVAXUSD market?With the bearish momentum intact, AVAXUSD is likely to test the $33.020 support level in the near term. A decisive break below this level could open the path toward $22.330 or even $17.280 if selling pressure intensifies. However, any recovery would need to surpass $48.000 to challenge the bearish narrative.
AVAX/BTC Price Analysis
The AVAX/BTC pair has broken below its ascending trendline, signalling bearish momentum. The price is trading below the 9-day SMA, reinforcing downward pressure.
MACD shows a bearish crossover with increasing sell volume. Key support levels lie at 0.0003300 and 0.0002500, with resistance at 0.0003840.
Avalanche (AVAX) Current Statistics
The current price: $37.30
Market Capitalisation: $16,070,000,000
Trading Volume: $28,000
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