Avalanche Price Prediction: AVAX/USD Struggles Around $20.96 Level
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Avalanche Price Prediction – November 30
The Avalanche price prediction may extend the market movement below the $ 20 support if the price fails to hold above the 9-day and 21-day moving averages.
AVAX/USD Long-term Trend: Ranging (Daily Chart)
Key Levels:
Resistance levels: $27, $28, $29
Support levels: $16, $15, $14
AVAX/USD is currently struggling with the bullish movement as the coin fails to touch the resistance level of $22. However, the Avalanche price has formed a pattern where the day could begin either with an up or down trend, but the coin reverses towards the end of the day.
Avalanche Price Prediction: What to Expect from Avalanche (AVAX)
The Avalanche price may begin to consolidate itself in a flag formation, waiting for a cross below the 9-day and 21-day moving averages. However, the daily breakdown reveals that the AVAX price may drop to the support level of $20 before facing the upside. Meanwhile, if the support level of $18 gets weak, a price breakdown may occur as the bears may find new lows at $16, $15, and $14 support levels.
On the contrary, a bullish movement may likely cross above the upper boundary of the channel and this could push the market price towards the $27, $28, and $29 resistance levels. For now, the Relative Strength Index (14) is moving above 40-level as the signal line heads to the south.
AVAX/USD Medium-term Trend: Ranging (4H Chart)
According to the 4-hour chart, the Avalanche price continues to perform very poorly due to a recurring bearish sentiment which could lead to a drastic drop in the market. However, if the AVAX price drops, sellers could pose an additional threat to buyers, meanwhile, any breakout toward the lower boundary of the channel may cause the coin to collapse.
However, for a positive upsurge, $24 and above are the major resistance levels for the coin, but a bearish continuation could hit the important support at $18 and below. Moreover, the trading volume is seen fading away and the 9-day MA may cross below the 21-day MA, which could send the price to the negative side.
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