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AVAXUSD Market Analysis- April 19
Avalanche (AVAXUSD) continues to maintain its bearish trajectory as price approaches a critical phase of accumulation near a key resistance level.
AVAXUSD Key Levels
Support Levels: $32.60, $15.70
Resistance Levels: $44.20, $55.40
AVAXUSD Long-Term Trend: Bearish
The asset experienced a notable bullish run that began in August 2024, marked by steady upward movement that hinted at a potential trend reversal. In early November 2024, however, the price briefly broke below the bullish trend line. This bearish breakout proved to be a false crypto signal, as AVAX swiftly reclaimed bullish momentum, driving price beyond the $43.60 supply zone.
Despite the temporary strength, bullish momentum eventually weakened. Price action reversed and decisively broke through the bullish trend line, confirming a shift back to bearish dominance. The decline was steep, with AVAX breaching the $22.50 demand level and descending towards lower support zones.
Currently, AVAX is trading around the long-term bearish trend line resistance. Price behavior at this level indicates a renewed bearish reaction, suggesting increased selling activity. If bearish momentum persists, AVAX could be on track to revisit the $13.60 support level in the coming sessions.
AVAXUSD Medium-Term Trend: Bearish
On the 4-hour chart, AVAX shows clearer signs of continued bearish pressure. Price recently formed a failed high near the bearish trend line resistance, accompanied by a structural shift that confirms the beginning of a downward trend.
Technical indicators further validate this outlook. The 4-hour Moving Average shows price consistently trading below the indicator, reinforcing a bearish sentiment. Additionally, the Moving Average’s downward slope points to strong bearish momentum, highlighting sustained seller dominance in the medium term.
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