Avalanche Price Forecast: November 16
The Avalanche price forecast is for the market to rebound from the $21.50 support to complete its surge beyond $23.60.
Avalanche Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $23.60, $26.20, $30.30
Zones of Demand: $21.50, $18.20, $14.20
The Avalanche market has broken free from its major barriers and made a surge that has caused a price increase of about 95%. Previously, the market had been severely limited below the $13.40–$14.20 resistance level from early June up until last week, when the coin finally made a super surge that broke the barrier. The coin rose beyond another major zone at $21.50 to demonstrate its bullish strength. Presently, the price has been rejected at $23.60 and has pulled back slightly from that level.
Avalanche Price Forecast: AVAX/USD Outlook
AVAXUSD has successfully shattered significant barriers, experiencing an impressive surge that propelled prices upward by more than 95%.
Overcoming a prolonged constraint within the $13.40–$14.20 resistance range since early June, the Avalanche market recently demonstrated remarkable strength with a super surge, surpassing not only this resistance but also reaching beyond a major zone at $21.50.
However, the coin has now encountered resistance at $23.60, resulting in a slight pullback from this level. On the daily chart, the Parabolic SAR (Stop and Reverse) dots align below the daily candlesticks in line with the anticipated price surge.
AVAX/USD Medium-Term Trend: Bullish (4-hour chart)
The Relative Strength Index (RSI) on the daily chart reflects the bullish momentum, rising from below the mid-level and entering the overbought region. Examining the 4-hour chart, a clear pullback to the significant level of the $16.00 issue occurred before the price resumed its upward trajectory, surpassing the $21.50 mark.
With the current resistance at $23.60, there’s a possibility of a rebound from $21.50. Consequently, the Parabolic SAR dots are expected to alternate around the candles, and the RSI line may undergo fluctuations, dropping to the mid-level before rising into the overbought region as the price breaks the $23.60 line.
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