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Avalanche Price Forecast: November 2
The Avalanche price forecast is that the market will continue its bullish drive beyond the $12.30 resistance level towards $13.40.
Avalanche Long-Term Trend: Bullish (1-Day Chart)
Key Levels:
Zones of supply: $16.00, $13.40, $12.30
Zones of Demand: $10.60, $9.50, $8.00
The Avalanche market still has the bulls in control and is actively testing the $12.30 resistance level. The buyers have been revived after a free fall in price that caused the coin to drop to its lowest-ever level at $8.75. After the bullish resurgence, the price will bypass some key levels to reach $12.30. This current level presents resistance, but the market remains determined to break through it to $13.40.
Avalanche Price Forecast: AVAX/USD Outlook
The AVAXUSD market maintains its push to surpass the $12.30 resistance level. Bulls continue to exert control, actively testing this resistance after a recent price drop to a record low of $8.75.
Following the bullish resurgence, the price rose to surpass several key levels on its way to reaching $12.30, a significant resistance point.
Nevertheless, the market remains committed to breaking through this barrier and advancing toward $13.40. Notably, the EFI (Elders Force Index) power line has surged above the zero level, confirming the prevailing bullish sentiment in the market.
AVAX/USD Medium-Term Trend: Bullish (4-hour chart)
The RSI (Relative Strength Index) line remains upward-bound, albeit reaching the overbought region. Examining the 4-hour chart, the RSI line fluctuates within the bullish range just below the overbought threshold.
Furthermore, there is a notable uptick in the EFI line from the zero level. These indicators collectively suggest that the market’s predominant sentiment is bullish, with expectations of breaching the $12.30 resistance level en route to $13.40.
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