Avalanche Price Forecast: AVAXUSD Sustains Uptrend Despite Bearish Pressure

Avalanche Price Forecast: April 11

The Avalanche price forecast is for the rising trendline to sustain the market from bearish pressure and lift it to the $56.20 significant level.

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

Key Levels:
Zones of supply: $56.20, $65.50, $100.70
Zones of Demand: $42.40, $45.30, $50.10

The Avalanche market keeps maintaining its upward trajectory along the rising trendline. This means the price keeps making a higher low with each forward movement. However, the bulls were feeling confident at some point in mid-March and decided to leap higher prices. The coin bypassed some levels and rose to the $65.50 level. This invited bearish pressure and caused a crash back to the rising trendline.

Avalanche Price Forecast: AVAX/USD Outlook

The Avalanche (AVAXUSD) market continues to uphold its upward trajectory, adhering closely to the ascending trendline.

This pattern indicates that with each forward movement, the price establishes a higher low. However, in mid-March, bullish momentum surged, propelling the coin to bypass several resistance levels and reach $65.50.

Nevertheless, this upward momentum invited bearish pressure, leading to a subsequent retracement to the ascending trendline.

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

The Moving Average period 20 (MA period 20) line, positioned above the daily candlesticks, underscores the prevailing bearish pressure. The significant price drop caused the Elders Force Index (EFI) on the daily chart to plummet below the zero level. The EFI is rebounding towards zero, indicating stabilization as the price remains above the rising trendline.

On the 4-hour timeframe, the MA period 20 continues to hover above the market’s trading level, albeit in a more vulnerable position, poised to be crossed. Following a period of volatility that saw the market rise and subsequently retrace to the rising trendline, the EFI line is oscillating around the equilibrium level. The ascending trendline is anticipated to support the market’s upward movement towards the $56.20 level, with further reactions expected thereafter.

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