Avalanche Price Forecast: AVAXUSD Prepares for Price Accumulation Ahead

Avalanche Price Forecast: June 29

The Avalanche price forecast is the price to enter a consolidation phase as buyers try to overturn the market.

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

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

The Avalanche price direction is topsy-turvy as buyers and sellers take turns influencing the market. The bulls seem the most aggressive, especially from the $10.60 support level. However, the sellers are emboldened at $21.50. This led to a double top formation that made the coin plummet to the $10.60 support. The counteractivity of the buyers at this point might only lead to price accumulation.

Avalanche Price Forecast: AVAX/USD Outlook

From the Avalanche price outlook, the strength of the bulls is usually strongest at the $10.60 support level, but the sellers have been able to temper this at the $21.50 resistance level.

This strength and weakness at different psychological zones have now led the price to form a double-top bearish formation, which plunges the coin back to the $10.60 support level.

At $10.60, the coin buyers are back on top in the market. However, the prevailing bearishness will mean the coin enters a ranging phase. The price is to trade below the MA period 25 (Moving Average).

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

On the daily chart, likewise, the EFI (Elders Force Index) power line has struggled to rise above the zero level. The weight of the bearish pressure is bending it back below the zero level, and the price is now heading toward the $10.60 support.

The 4-hour EFI indicator grapples with the zero level and hangs in the balance. Meanwhile, the price has traded below the MA period 25 on this 4-hour chart and is now free to drop to the support level. The bulls are expected to jerk the price up again, and a consolidation session commences.

 

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