Avalanche Price Forecast: AVAXUSD Thrust Through Resistance Levels

Azeez Mustapha

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Avalanche Price Forecast: July 20

The Avalanche price forecast is for the furtherance of the bullish course after the buyers’ persistence pushes the coin above $13.40.

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

Key Levels:
Zones of supply: $14.20, $21.50
Zones of Demand: $10.60, $8.00

Avalanche Price Forecast: AVAXUSD Thrust Through Resistance Levels

Avalanche experienced a price drop from the $21.50 resistance level, forming a double-top bearish reversal pattern, and falling to $10.60 support. However, the bulls swiftly initiated a market rebuild. Despite facing immediate resistance at $13.40, their persistence led to a breakthrough, furthering the bullish trend.

Avalanche Price Forecast: AVAX/USD Outlook

The Avalanche coin against the US dollar tested the $21.50 resistance level twice, forming a double-top bearish reversal pattern and subsequently dropping to the $10.60 support level.

However, the bulls quickly seized the opportunity to rebuild the market. Presently, there is immediate resistance at a significant level of $13.40.

Nevertheless, the persistent efforts of the bulls have successfully pushed the price beyond this resistance, furthering the bullish trend.

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

As a result of this upward thrust, the market is now trading above the 25-day Moving Average (MA), effectively converting it into support. Additionally, the EFI (Elders Force Index) power line has surged upward, crossing the zero level, indicating the increasing influence of the bulls in the market.

Avalanche Price Forecast: AVAXUSD Thrust Through Resistance Levels

On the 4-hour chart, there was a slight drawback as the price briefly dipped below $14.20, causing the MA period 25 to rise above the 4-hour candles. Nevertheless, the market has recovered, with the price back above $14.20 and the MA period 25. The 4-hour EFI also experienced a drop but has since recovered above the zero level. Moving forward, AVAXUSD is targeting $18.20 as its next goal.

 

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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