Avalanche Price Forecast: AVAXUSD Burst Though the Barriers

Avalanche Price Forecast: March 14

The Avalanche price forecast is for a further increase in price following the upsurge that pushes the price out of consolidation.

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

Key Levels:
Resistance Level: $56.20, $60.00
Support Level: $26.20, $42.40

The Avalanche market eventually bursts through the consolidation barriers that have prevented it since the beginning of the year. Despite the market fluctuations in this zone, it dropped to a level just above $26.20. Afterwards, the price began ascending along a rising trendline, which helped it apply pressure on the upper level of the consolidation zone. The result is a major price surge that breaks out of the consolidation and reaches $56.20.

Avalanche Price Forecast: AVAX/USD Outlook

Avalanche has decisively breached the consolidation barriers that have confined it since the start of the year, marking a significant breakthrough in its market trajectory.

Following a period of market fluctuations within this consolidation zone, the price found support just above $26.20. Subsequently, a rising trendline emerged, enabling the price to exert upward pressure on the upper boundary of the consolidation range.

The outcome is a remarkable surge in price, catapulting AVAXUSD beyond the consolidation zone to reach $56.20.

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

On the daily chart, the Parabolic SAR (Stop and Reverse) dots have consistently alternated around the daily candlesticks, with a notable accumulation of dots below the candles. This configuration served as an early signal for an impending breakout. Moreover, the Stochastic Oscillator lines on the daily chart exhibited a pattern of higher lows while hovering around the overbought territory leading up to the breakout, indicating bullish momentum building up.

Examining the 4-hour timeframe, a similar pattern emerges with a predominance of dots below the daily timeframe, indicative of sustained buying pressure leading to the breakout above the $42.40 resistance level. The Stochastic Oscillator lines on this timeframe displayed erratic fluctuations between the overbought threshold and the 50 mark, reflecting heightened market volatility preceding the breakout. With the breakout achieved, AVAXUSD now sets its sights on the $65.50 key level, propelled by bullish momentum and favourable crypto signals.

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