Avalanche Price Forecast: AVAXUSD is Poised to Surpass the Current Resistance Level

Avalanche Price Forecast: March 28

The Avalanche price forecast is for the market to breach the current resistance level at $65.60 and rise to a higher height

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

Key Levels:
Zones of supply: $56.20, $65.50, $70.00
Zones of Demand: $42.40, $45.30, $50.10

The AVAXUSD market could yet set another record all-time price as the market continues its bullish run. After an extended period of price accumulation, Avalanche broke out beyond the $2.48 consolidation resistance. The coin overcame the barriers to blitz its all-time level by a stretch, rising to $5.68. The market is currently retracing $4.85 and the buyers are to revive to continue the rally and set another all-time high record within two months.

Avalanche Price Forecast: AVAX/USD Outlook

The Avalanche market appears poised to surpass its current resistance level as it continues its bullish trajectory.

Following an extended phase of price accumulation, AVAXUSD successfully broke through the $42.40 consolidation resistance. The coin persistently overcame subsequent barriers to reach the $65.50 key level.

Currently retracing to $50.10, the market awaits a revival from buyers to sustain the rally and potentially surpass the current resistance level.

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

On the daily chart, the candlesticks have consistently stretched the upper Bollinger Band since breaking out from the price accumulation phase. The recent pullback has caused the upper band to recover around the candles. Since the breakout occurred, the Stochastic Oscillator lines have fluctuated from the overbought to the oversold zone, with more presence around the overbought region.

Analyzing the 4-hour timeframe, the Bollinger Bands have effectively enveloped the market, with the candlesticks descending below the band’s middle line. Despite the recent pullback, the Stochastic Oscillator, similar to its behaviour on the daily chart, continues to fluctuate in and out of the overbought zone. Although the pullback has momentarily shifted it to the oversold zone, this sets the stage for a potential rally to overcome the current resistance and establish a new all-time high.

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