Avalanche Direction Shifts Bearish

Market Analysis – June 22

Avalanche found support at the demand level of 16.1380 in April. This led to a two-month bullish run that terminated at the resistance level of 25.8540. Following this, the market experienced a bearish reversal and is now on the verge of retesting the demand level of 16.1380 once again.

Avalanche Key Levels

Demand Levels: 16.1380, 11.6910, 8.7420
Supply Levels: 22.6150, 25.8540, 31.8969

Avalanche Long-term Trend: Bearish

Avalanche first tested the support level of 16.1380 in March. The retracement that followed extended beyond the bearish order block just above the zone, causing the order block to fail. Although this signaled a potential reversal, the signal was early and relatively weak. The price fell again to the same zone, forming a divergence with the Williams Percent Range. While price action created a lower low, the Williams Percent Range formed a higher low—an early indication of building bullish momentum.

The bullish trend became more pronounced as the price broke above the Moving Averages (periods 20 and 50). A bullish trendline then guided price upward, helping Avalanche reach the resistance at 25.8540. However, a failed high formed at that level, suggesting buyer exhaustion. The eventual break of the trendline opened the door for a resumption of the bearish trend.

Avalanche Short-term Trend: Bearish

The current positioning of the Moving Averages above the daily and 4-hour candles confirms continued bearish pressure. Price is approaching the 16.1380 level once again. A bearish breakout is anticipated, with crypto signal providers watching closely for potential shorting opportunities toward the next demand level at 11.6910.

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