Avalanche Price Forecast: AVAXUSD Edges Higher Amid Bearish Pressure

Azeez Mustapha

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Avalanche Price Forecast: June 20th

The Avalanche price forecast shows buyers making a comeback, but bearish pressure remains. Traders are watching for a potential retest of the $30.560 level.

AVAXUSD Long-Term Trend: Bearish (1-Day Chart)
Key Levels
Support Levels: $30.000, $24.000
Resistance Levels: $40.000, $34.140
Avalanche Price Forecast: AVAXUSD Edges Higher Amid Bearish PressureAVAXUSD is showing signs of a buyer resurgence as the bulls attempt to regain their footing amid the prevailing bearish pressure in the broader market. While sellers have maintained their dominance for weeks, buyers are now making a concerted effort to pull the price back up, with a potential close near the $30.560 significant level on the horizon.

AVALANCHE Price Forecast: AVAXUSD Outlook
Avalanche previously succumbed to bearish pressure after buyers pushed the price beyond the $40.000 market level in May. However, the market’s changing tide gave rise to the bears, who then drove the price down towards the $24.810 level.

Now, buyers are finally reducing the sell pressure after the prolonged downward move. The current lower high being established is not yet strong enough for buyers to consider a reversal. Nevertheless, a robust reaction from them could change the market atmosphere.

The Money Flow Index (MFI) is on the rise, indicating that buyers are gradually making gains. Also, the Parabolic SAR (Stop and Reverse) indicator remains focused on the sellers.

Avalanche Price Forecast: AVAXUSD Outlook
In the shorter time frames, buyers have slowed down in their attack, but the MFI is still increasing progressively. The Parabolic SAR indicator has also reversed course, suggesting a potential shift in market dynamics. However, buyers are currently trading at a lower high, and it is plausible that the price flow may continue downward later, potentially reaching the $24.000 price zone.
Avalanche Price Forecast: AVAXUSD Edges Higher Amid Bearish PressureDespite the current bearish pressure, the $30.560 level remains a significant resistance area for the AVAXUSD price. A successful breach of this level could pave the way for buyers to regain control and potentially push the price higher. Utilizing the best crypto signals can help traders make informed decisions in this volatile market.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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