Avalanche Price Forecast: Sellers Could Retain the Upper Hand Amidst Consolidation

Avalanche Price Forecast: September 7

Avalanche price forecast shows a period of consolidation, with buyers and sellers engaged in a struggle for control.

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

Key Levels
Zones of Supply: 21.690, 16.00
Zone of Demand: 11.200, 9.500

Avalanche has been characterized by a tug-of-war between buyers and sellers. While buyers have attempted to regain confidence, they have been met with resistance from sellers. This struggle has resulted in a period of accumulation where price movements have been relatively stagnant.

Avalanche Price Forecast: AVAX/USD Outlook

Despite the ongoing consolidation, sellers have managed to maintain the upper hand. Towards the end of August, the bears attempted to push the price below the key support level of $9.500. However, their efforts were unsuccessful, and since then, the price has been hovering above this level. This failure to break the support level indicates the resilience of sellers in the market.

The momentum indicator on Avalanche is currently quiet, suggesting a lack of significant influence in the market. This indicates that there is a need for more substantial price movements to drive the market in either direction.
Given the continued dominance of sellers, it is expected that a breakout will occur in the near future. While sellers may appear quiet at the moment, a breakout below the $9.500 key level is highly plausible. However, the ongoing tug-of-war between buyers and sellers has resulted in price accumulation. However, neither side has been able to gain a decisive advantage.

AVAX/USD Medium-Term Trend: Bullish (4-Hour Chart)

In the short term, sellers are fighting back to push the price lower. However, for the price to eventually break through the $9.500 level, it will require a significant drive.

This indicates that a breakout may be imminent as sellers continue to exert pressure. It is only pertinent to see what the rest of the week has in place.

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