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AVAXUSD Price Forecast: June 13th
The AVAXUSD price forecast shows that the crypto price has faced a bearish pullback. However, the buyers remain determined to reclaim the $34.250 key level.
AVAXUSD Long Term Trend: Bullish (1-Day Chart)
Key Levels
Resistance Levels: $40.000, $44.000
Support Levels: $34.250, $30.890
The Avalanche cryptocurrency has experienced a pullback in momentum. The bulls appear to have lost some of their determination to push the price back towards the $34.250 key market level. However, the sellers’ resurgence has not gone unchallenged, as the buyers continue to fight back, albeit in a more timid manner.
AVAXUSD Price Forecast: Avalanche Outlook
The daily chart shows that the AVAXUSD price has been descending from the $42.000 key zone since last month. The bears managed to put the buyers under their control despite their struggle. The buyers, at every opportunity, have been seen fighting back, but their efforts have been met with resistance.
In June, the sell-side traders successfully broke through the market structure at the $34.250 significant level. They further extended their reach down to the $30.000 supply level before pulling out. The buyers, in an attempt to cross back above, have been pushed out once again, as the crypto sellers are now aiming to retest the $30.000 key level.
A test at this key level could provide an opportunity for the buyers to make another entry. This can potentially set the stage for a stronger bullish response. The Relative Strength Index (RSI) on the daily chart reveals that the buyers are still in control. The Money Flow Index is below the midline, suggesting the current price direction.
AVAXUSD Medium-Term Trend: Bullish (4-hour chart)
On the 4-hour chart, the buyers are showing less timidity, and they are very likely to fight back. Their current action is attempting to pull the price up towards the $34.000 market area.
The RSI on the 4-hour chart is rising, indicating a buy response from the buyers. For the Money Flow Index, the signal line is streaming upward, further confirming the buyers’ increased control.
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Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, product, or event. We are not responsible for your investment results.
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