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Avalanche Price Forecast: April 4
The Avalanche price forecast is for the market to sustain its upward trend despite rejection at a significant level.
Avalanche Long-Term Trend: Bullish (1 Day Chart)
Key Levels:
Resistance Level: $50.10, $56.20, $65.50
Support Level: $26.20, $42.40, $45.30
The Avalanche market is expected to continue its upward trend, despite the latest rejection at $65.50. After the coin evaded the $21.50 significant level, investors rode the price with a near-smooth rise till it stopped at $50.10. What is seen next is a descent in the price. Nevertheless, market forces made the most of the retracement period by forming the market into a bullish reversal flag structure. This resulted in an actual price reversal that set the coin on an uptrend.
Avalanche Price Forecast: AVAX/USD Outlook
The Avalanche market is poised to sustain its upward trajectory, notwithstanding the recent setback at the $65.50 resistance level.
After successfully surpassing the pivotal level of $21.50, investors propelled the price upwards with relative ease until it encountered resistance at $50.10. Subsequently, a price correction ensued.
However, during this retracement phase, market dynamics led to the formation of a bullish reversal flag structure, culminating in an actual price reversal and setting the coin on a renewed uptrend.
AVAX/USD Medium-Term Trend: Bullish (4-hour chart)
On the daily chart, the Moving Average (MA) period 20 provided consistent support to the market, aligning closely with an ascending trendline. This momentum carried the price past the $56.20 key resistance level. Nonetheless, the coin faced resistance at $65.50, resulting in the daily candles dipping below the MA period 20. The Stochastic lines plummeted directly to the oversold region in response to this rejection, although the market maintains its position above the ascending trendline.
Shifting the focus to the 4-hour timeframe, the MA period 20 remains positioned above the current candle formations and the prevailing market trading level, indicating a potential price correction. The Stochastic Oscillator lines have similarly retreated to the oversold border and are oscillating around this threshold. It’s worth noting that the coin has descended to a robust confluence point at $45.30, intersecting with the ascending trendline. This juncture holds significant potential to propel the market upwards, supported by these crypto signals.
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Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, presented product, or event. We are not responsible for your investment results.
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