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

Azeez Mustapha

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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

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

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.

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

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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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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