Avalanche Price Forecast: AVAXUSD Experiences Significant Selling Pressure

Avalanche Price Forecast: September 21

The Avalanche price forecast is for a market largely lacking direction to be gradually tilting towards buyers and could rise above $10.60.

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

Key Levels:
Zones of supply: $10.60, $9.50
Zones of Demand: $8.00, $7.00

The Avalanche market is still under the strong influence of the sellers. Presently, the coin has plunged deeper and is edging toward $8.00. This will represent a 50% price drop from when the coin was initially rejected at the $16.00 resistance in mid-July. The market has since been on a downtrend, reaching a new record low. As things stand, the selling strength remains higher, and it is anticipated that the market will eventually crash to $8.00.

Avalanche Price Forecast: AVAX/USD Outlook

The Avalanche market continues to grapple with substantial selling pressure. At present, the coin has descended deeper and is inching closer to the $8.00 mark.

The potential decline to &8.00 will mark a significant 50% price decline since its initial rejection at the $16.00 resistance level in mid-July.

The market has remained on a persistent downtrend, hitting new record lows. The prevailing selling momentum remains formidable, and it is expected that the market will eventually reach the $8.00 threshold.

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

Following the bearish crossover near $13.40, the MA Cross (Moving Average) has positioned itself above the daily candlesticks, effectively serving as a resistance level for the market. However, it’s worth noting that the EFI (Elders Force Index) power line, while situated below the zero level, has maintained a position just beneath this critical threshold.

Turning attention to the 4-hour chart, the MA Cross predominantly remains above the candles, and the EFI power line hovers below, close to equilibrium. These indicators align with the price’s proximity to the $9.50 resistance level. However, historical patterns suggest that the coin is likely to experience a further decline, potentially reaching the $8.00 mark before any signs of a potential resurgence materialize.

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