Avalanche Price Forecast: AVAXUSD Holds Steady Amid Resistance Break Attempt

Avalanche Price Forecast: August 10

The Avalanche price forecast is for the coin to hold firmly above $12.30 as it plots to retest the resistance level for a breakout.

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

Key Levels:

Zones of supply: $14.20, $21.50
Zones of Demand: $10.60, $8.00

Avalanche buyers are trying to overturn the market after a bearish bout. There has been an initial failure to breach the $14.20 resistance zone, but the buyers are still in control of the market. The price is safely anchoring itself at the $12.30 significant level, where it is expected to punch upward again.

Avalanche Price Forecast: AVAX/USD Outlook

In the aftermath of a bearish phase, Avalanche buyers are diligently striving to reverse market dynamics. The initial endeavors to breach the $14.20 resistance zone have faced setbacks.

The influence of the buyers remains substantial, nevertheless, upholding their grip on the market. With a secure foothold at the significant $12.30 level, a potential upward thrust is anticipated.

Following the inability to surmount the $14.20 resistance level, the candlesticks have temporarily dipped below the daily chart’s MA period 25 (Moving Average).

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

Notwithstanding, preparations are underway for an imminent rally, as evidenced by the MACD lines nearing an upward crossover, accompanied by a notable reduction in bearish histogram bars.

Turning attention to the 4-hour chart, encouraging developments emerge as the MACD lines inch slightly above the zero level, accompanied by bullish histogram bars. Simultaneously, the MA period 25 line has descended to function as a supportive underpinning for the market’s trajectory to retest and break the $14.20 level.

 

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