Avalanche Price Forecast: AVAXUSD Remains Under Bearish Pressure

Avalanche Price Forecast – September 5th

The Avalanche price forecast suggests that buyers are attempting to stage a recovery amidst ongoing bearish pressure.

AVAXUSD Long-Term Trend: Bearish (1-Day Chart)
Key Levels

Support Levels: $28.100, $33.000
Resistance Levels: $20.420, $17.170
Avalanche crypto has been experiencing a sustained bearish slump, with market sentiment turning negative after retesting the critical $28.000 level last month. Since then, the bearish momentum has spread, casting doubt on buyers’ hopes of initiating a recovery at the start of this month.

Avalanche Price Forecast: AVAXUSD Outlook

In recent weeks, the bears have maintained a strong presence in the market, pushing the price below the significant $22.000 level last week. Before the market reversed from the $28.000 key level in August, buyers were initially in control. In mid-August, the bulls made a solid push, driving the price through the $22.000 key area, which was recently breached to the downside this week.

Despite their earlier confidence, buyers have struggled to maintain momentum, with Avalanche now trading around the $21.600 key area. The market’s return to the $20.400 significant level could signal a potential price reversal, as buyers successfully reversed the market at this level last month. 

The Stochastic Oscillator is currently in the oversold region, suggesting the market could be due for a reversal. However, the Parabolic SAR (Stop and Reverse) indicator continues to trend lower, indicating that bearish momentum remains dominant.

Avalanche Medium-Term Trend: Bullish

On the short-term timeframe, Avalanche’s price is ranging, with no clear directional movement. Despite the prevailing bearish sentiment, the bulls appear to be attempting a forward push.
The Stochastic Oscillator is trading around the mid-area, while the Parabolic SAR has shifted, indicating a potential change in market direction. The $20.400 significant level remains a crucial support zone, and a break below this level could lead to further downside. Crypto signals will be essential in monitoring these developments, providing traders with critical updates on potential price movements.

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