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Avalanche Price Forecast: April 25
The Avalanche price forecast is for a short period of consolidation for the bulls to regain momentum to push upward again.
Avalanche Long-Term Trend: Bullish (1 Day Chart)
Key Levels:
Resistance Level: $36.80, $42.40, $50.10
Support Level: $33.60, $30.30, $23.60
The Avalanche market struggles to rise off the $33.60 support level and selling activities could kick in to drive the price below the support. Previously, the coin was trudging along a rising trendline after breaking out from a bullish reversal flag structure. After rising for a while, the bulls became excited and started to ping the price higher, thereby inviting bearish pressure. In the end, the market is forced to drop below the rising trendline to $33.60 where it is currently struggling.
Avalanche Price Forecast: AVAX/USD Outlook
The Avalanche market faces challenges in rallying from the $33.60 support level, with potential selling pressure threatening to push the price below this critical point.
Previously, AVAXUSD followed an upward trendline after breaking out from a bullish reversal flag pattern. However, the enthusiasm of the bulls, eager to drive prices higher, inadvertently attracted bearish pressure.
Consequently, the market retreated below the rising trendline to the current support at $33.60.
AVAX/USD Medium-Term Trend: Bullish (4-hour chart)
Despite attempts to rally at this support level, the price has faltered, returning to $33.60. Crypto signals indicate a halt in the market’s momentum, as evidenced by a sharp downturn in the Momentum indicator, which had been on an upward trajectory. The RSI (Relative Strength Index) approached the 50 mark but has since fluctuated in the bearish territory, underscoring the market’s struggle.
On the 4-hour timeframe, there’s a noticeable decline in momentum, with the Momentum indicator registering negative values. Similarly, the RSI indicator’s line is descending below the 50 mark, reflecting the weakening resolve of the market’s bullish sentiment. The market may witness price accumulation before a potential resurgence in bullish enthusiasm or face a decline toward lower price levels.
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