Avalanche Price Forecast: AVAXUSD Reverses at $33.60, Gains Momentum

Avalanche Price Forecast: January 11

The Avalanche price forecast is for the market to keep scaling upwards after it finds strength for a reversal at $33.60.

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

Key Levels:

Zones of supply: $45.30, $50.10, $65.50

Zones of Demand: $36.80, $33.60, $30.30

The Avalanche market might have halted its descent, which began on Christmas Eve last year. Before that time, the price had rallied strongly from around the $21.50 demand level in early December. By Christmas Eve, the coin had recorded a more than 130% price increase, with the bulls expending much strength. Therefore, the rejection that came at $50.10 hit the market hard, pushing down the price by more than 35%. Nevertheless, the market has found strength for a U-turn at $33.60.

Avalanche Price Forecast: AVAX/USD Outlook

The Avalanche Market, which experienced a significant pullback from the $50.10 resistance level, is showing signs of a reversal.

Following a robust rally in early December, the rejection at $50.10 led to a more than 35% decline. However, the market has found strength for a turnaround at the $33.60 support level.

On the daily chart, the lower Bollinger Band has contributed to reinforcing the $33.60 support, providing a foundation for the price reversal. The next target is to surpass the middle line of the Bollinger Bands.

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

The daily Stochastic Oscillator lines, after lingering around the oversold border for approximately 10 days, have surged beyond the middle line, indicating increased bullish momentum.

In the 4-hour timeframe, significant progress is evident. The initial barrier at $36.80 has been breached.

The 4-hour Stochastic Oscillator lines have confidently entered the overbought region. The 4-hour candlesticks have extended beyond the upper Bollinger Band as the coin aims to surpass the next level at $42.40.

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