Avalanche Price Forecast: AVAXUSD Buyers Face Pullback Pressure

Avalanche Price Forecast – August 21

The Avalanche price forecast indicates that buyers are struggling to breach the significant $23.80 level amid a pullback.

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

Support Levels: $20.40, $17.20
Resistance Levels: $33.10, $37.10
Avalanche buyers have encountered a setback in their efforts to surpass the crucial $23.80 level following a series of bullish runs observed last week. The momentum of the buyers seems to be waning, as they struggle to maintain control of the market.

Avalanche Price Forecast: AVAXUSD Outlook

Throughout this month, the AVAX price has not shown a consistent trend, unlike the patterns observed in previous months. In July, bears dominated the market, driving the price down from the $33.10 key zone to the $17.00 supply level. However, this month, buyers have put in more effort to initiate a reversal.

In recent days, the AVAX coin has been consolidating between the $23.80 and $20.40 price zones. The bulls have demonstrated strong resilience, particularly this week, but they are now feeling the pressure of a pullback. Despite the current challenges, buyers still have the potential to achieve a breakout if they can sustain their efforts.

The Moving Average Crossing indicator suggests that the bearish trend may be nearing its end, as the two moving averages are converging. The MACD (Moving Average Convergence and Divergence) indicator is also rising, signaling that buyers are continuing to push forward.

Avalanche Medium-Term Trend: Bullish (4-Hour Chart)

In the shorter timeframe, the bullish momentum persists, indicating the possibility of a buyer-led breakout in the near future. The Moving Average Crossing is acting as a support line, as buyers continue to push higher. The MACD is also trading above the buy region, further strengthening the bullish momentum.
These indicators, along with positive crypto signals, suggest that buyers have the potential to achieve a breakout. However, they must remain focused and determined to overcome the current pullback pressure.

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