Avalanche Price Forecast: AVAXUSD Fails to Hold Above $12.30; Drops Lower

Avalanche Price Forecast: September 14

The Avalanche price forecast is for the market to stabilize back above the $9.50 significant level before further price movements.

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

Key Levels:  

Zones of supply: $16.00, $10.60

Zones of Demand: $9.50, $8.00

The AVAXUSD market has consistently trended downward following its inability to breach the formidable $16.00 resistance level. This shift has altered the market’s trajectory into a bearish one, with sellers progressively gaining dominance. The persistent bearish sentiment raises concerns about the coin’s ability to regain upward momentum in the near term.

Avalanche Price Forecast: AVAX/USD Outlook

The AVAXUSD market is witnessing an increased dominance of sellers, leading to a consistent downward trend.

The market’s downturn began when it failed to breach the formidable $16.00 resistance level, prompting a shift toward a bearish trajectory. This shift highlights the growing strength of sellers in the market.

On the daily chart, the MA Cross (Moving Average) indicator has shown a continuous downward trend since the price tumbled from its attempt to breach $16.00.

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

Concurrently, the RSI (Relative Strength Index) has dipped into oversold territory and remains fluctuating, indicative of the prevailing bearish sentiment. However, on the 4-hour chart, signs of stability are emerging after the price dropped below the $9.50 mark.

The stabilization in the short time frame has positively impacted the RSI, causing it to rebound from the oversold threshold, and the MA Cross indicator is on the verge of a potential upward crossover. This suggests that the coin is actively seeking stability above the $9.50 level before considering further market movements.

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