Avalanche Price Forecast: AVAXUSD Bears Refuse to Back Down as Bearish Momentum Intensifies

Avalanche Price Forecast – August 7th

Avalanche price forecast reveals that bears have resumed their attack, pushing the price back towards the $17.380 key support level.

AVAXUSD Long Term Trend: Bearish (1-Day Chart)
Key Levels

Resistance Levels: $37.270, $33.500
Support Levels: $21.750, $17.380
AVAXUSD bears maintain control as sellers target the $17.380 support level. The bears have resumed their attack on the AVAXUSD pair, aiming to regain market control. Buyers have been unable to mount a significant opposition lately, with recent trades showing attempts to push towards the $21.750 key resistance level.

AVAXUSD Long Term Trend: Bearish (1-Day Chart)

However, this resistance level was swiftly broken, leading to a resurgence of bearish momentum. Buyers were unable to hold back the sellers, and it appears that the bearish momentum can regain its footing soon.

Since mid-July, bearish momentum has been the stronger force, pulling the price down from the $33.500 market area. The buyers’ inability to hold their ground at this point has given the sellers an opportunity to push the price lower.

For the Avalanche price, it seems the bears are setting their sights on pulling the price down to the $17.380 key support area. The Stochastic Oscillator shows that the bears are still putting in significant effort to solidify their attacks, with the signal remaining in bearish favor. The Parabolic SAR (Stop and Reverse) also indicates a strong inclination toward bearish momentum.

Avalanche Medium-Term Trend: Bearish (4-hour Chart)

In the short-term time frame, the market is depicting a strong reversal, with the sellers assuming control.
The Stochastic Oscillator and the Parabolic SAR are both indicating strong bearish momentum, with the sellers maintaining control of the market. The technical indicators suggest a continued downward trend, with sellers targeting the $17.380 key support level. These developments are likely to generate negative crypto signals for Avalanche in the near future.

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