Avalanche Price Forecast: Avalanche Breaks $42.40; Anticipates Stability for Further Upside

Avalanche Price Forecast: February 29

The Avalanche price forecast is for the market to stabilize after violating $42.40. This is expected to lead to more rallies.

Avalanche Long-Term Trend: Bullish (1 Day Chart)

Key Levels:
Zones of supply: $42.40, $45.30
Zones of Demand: $30.30, $36.80

Avalanche forces its way through the $42.40 barrier for the second time since the market rejection at $50.10. Even though the bulls witnessed a revival just above the $26.20 key level, rising to higher levels wasn’t as straightforward due to the prevailing bearish sentiment. The coin couldn’t sustain itself the first time the price breached $42.40, leading to a retracement. However, the bullish attempt had led to a violation of the level.

Avalanche Price Forecast: AVAX/USD Outlook

Avalanche (AVAXUSD) has overcome the $42.40 barrier at the second trial, marking a significant development since the earlier rejection at $50.10.

Despite experiencing a revival just above the key level at $26.20, the subsequent ascent faced challenges amid lingering bearish sentiment, making the journey to higher levels less straightforward.

Although an initial breach of $42.40 led to a retracement, renewed bullish efforts have successfully violated this resistance.

AVAX/USD Medium-Term Trend: Bullish (4-hour chart)

Examining the daily MA Cross (Moving Average) reveals a consistent upward trajectory, resilient against market pullbacks attempting to alter its course. The recent upward cross reinforces its commitment to the bullish movement. The EFI (Elders Force Index) indicator on the daily timeframe exhibits a wavy pattern, rising above the zero level to a positive value, indicating increased bullish force.

On the 4-hour timeframe, the MA Cross initially compelled to trend downward, has now reversed direction, serving as a supportive factor for the market. The EFI, previously hovering around equilibrium with a downward bias, has sharply risen above the zero level. These crypto signals suggest that AVAXUSD is poised to stabilize above the key level, paving the way for a potential advancement toward $50.10.

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