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Avalanche Price Forecast: April 18
The Avalanche price forecast is for the bulls to regroup and challenge the new hold of the bears over the market.
Avalanche Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $36.80, $42.40, $50.10
Zones of Demand: $33.60, $30.30, $26.20
Avalanche bears have finally been able to gain dominance of the market. Although the effect of the buyers can already be seen at different periods as the price trudged along the rising trendline, it was not until April 12 that the bears finally had dominance. This they did by plunging the market deep below the rising trendline. After this surge of power, the bulls are expected to react. However, it remains to be seen whether the bears will stretch their hold on the market or immediately cede it back to the buyers.
Avalanche Price Forecast: AVAX/USD Outlook
The Avalanche (AVAXUSD) market has recently witnessed a notable shift in momentum, with bears asserting dominance over the previously resilient bulls.
While intermittent buying activity had been evident as the price adhered to the ascending trendline, it was on April 12th that bears decisively seized control, driving prices sharply below this crucial support.
This pronounced bearish move raises questions about the potential response from the bullish camp. Will they mount a robust counteroffensive, or will bears maintain their newfound grip on the market?
AVAX/USD Medium-Term Trend: Bullish (4-hour chart)
Crypto signals from the daily chart highlight the repercussions of this bearish surge, with the lower Bollinger Band extending significantly downward to converge near the $33.60 support level. Interestingly, this development could potentially favor the bulls if the Bollinger Band rebounds, catalyzing an upward price reversal. Additionally, the EFI (Elders Force Index) power line has halted its descent, marking a sharp upward inflection as it gravitates towards the equilibrium level, suggesting a possible resurgence in buying momentum.
Shifting the focus to the 4-hour timeframe provides a more granular view of the current market landscape. The price action is consolidating around the pivotal $33.60 support level, showing tentative upward momentum as it inches closer to the upper Bollinger Band. Concurrently, the EFI line has retraced to equilibrium, poised to react to the next significant market catalyst that could propel the coin upwards.
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