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Avalanche Price Forecast: November 9
The Avalanche price forecast is for the market to confront the new $13.40 resistance and push higher.
Avalanche Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $16.00, $14.20, $13.40
Zones of Demand: $12.30, $10.60, $9.50
AVAXUSD has seen a strong market pump in recent times that has taken the market to rise by more than 50%. As a result, the price has now reached the $13.40 significant resistance level. This level is set to pose a strong barrier to the market as its influence reaches up to $14.20. The coin has made its first test at this level, which has been swiftly rebuffed. Avalanche will now put in more effort to breach the resistance level.
Avalanche Price Forecast: AVAX/USD Outlook
AVAXUSD has experienced a notable surge in recent market activity, resulting in an impressive 50% price increase.
Consequently, the coin has now reached a critical juncture at the $13.40 resistance level, which looms as a formidable barrier with implications extending up to $14.20.
The initial attempt to breach this level was met with swift resistance, prompting Avalanche to intensify its efforts to overcome this pivotal obstacle.
AVAX/USD Medium-Term Trend: Bullish (4-hour chart)
A closer examination of the daily chart reveals the Stochastic Oscillator lines making a substantial move from the oversold border, traversing into the overbought zone. This upward trajectory aligns with the ongoing price movement as it endeavors to surpass the $13.40 resistance. Similarly, the Relative Strength Index (RSI) has exhibited a notable ascent from the mid-level, now residing comfortably within the overbought zone.
On the 4-hour chart, the resistance posed by the $13.40 level is evident in the Stochastic Oscillator lines fluctuating around the overbought border. Meanwhile, the RSI line has experienced a slight decline but remains situated in the bullish half of its chart. Anticipations are set for the market to exert increased upward pressure, intensifying efforts to breach the resistance and ascend beyond it.
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