Avalanche Price Forecast: AVAXUSD Retreats to $23.000 Crucial Support as Bearish Sentiment Dominates

Avalanche Price Forecast – August 28th

The Avalanche price has retreated to the crucial $23.000 support level as bearish pressure continues to dominate the market.

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

Support Levels: $20.000, $23.000
Resistance Levels: $28.000, $30.000
The cryptocurrency market has been experiencing a tumultuous pattern recently, and Avalanche is no exception. After a bullish run, AVAX has retreated back to the significant $23.000 level, with bearish sentiment overwhelming the market and sidelining the bulls.

Avalanche Price Forecast: AVAXUSD Outlook

Over the past week, AVAX coin has seen a bearish decline, dropping from the $28.000 area. The bulls, who previously controlled the market, have been pushed out as bearish sentiment takes hold.

After consolidating below the $23.000 key zone, buyers managed to break through this level and push the price up to the $28.000 area. However, as bearish pressure mounts, the price has pulled back toward the $23.000 level and could even dip further to $22.000.

Buyers are still eyeing a potential rebound near the $23.000 area, but the bearish momentum remains strong. The Momentum indicator signals a continued decline, suggesting that the bears are still in control. However, the Moving Average crossing is providing a glimmer of hope for buyers, indicating that they may not be entirely out of the game.

Avalanche Medium-Term Trend: Bearish (4-Day Chart)

In the short term, the AVAXUSD price remains under bearish control, with sellers gaining ground. However, their momentum is gradually slowing, hinting at a possible reversal. This reversal will be confirmed when the Moving Average crossing signals a shift, putting buyers back in play.

The Momentum indicator has also begun to slow down, and a rise in this indicator could suggest that buyers are looking for an opportunity to regain control, supported by crypto signals hinting at a potential shift.

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