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AVAXUSD Price Forecast: June 6th
The AVAXUSD price forecast indicates that buyers have refused to back down lately after being stuck for a while. The crypto has gained attention as buyers persist in their efforts.
AVAXUSD Long-Term Trend: Bullish (1-Day Chart)
Key Levels
Supply Zones: $51.900, $44.870
Demand Zones: $31.060, $34.670
The buyers have resumed their pursuit and have opened the floor beyond the $36.000 key area. Recently, the buyers of Avalanche have shown determination and resilience. They may extend their pursuit above the Bollinger Band indicator. The crypto market has lacked major resilience, with buyers facing restrictions in pushing beyond the $42.000 significant level. Towards the end of June, the price was compressed to the $34.600 key level, creating a consolidation phase.
AVAXUSD Price Forecast: AVAXUSD Outlook
The significant level of $42.000 has acted as resistance, preventing the buyers from pushing the price higher. On the other hand, the $34.600 key level has served as support, providing a floor for the buyers to build momentum.
These key levels act as psychological barriers and can influence the behavior of traders. The Bollinger Band indicator has shown a silent atmosphere for weeks, indicating a lack of significant price fluctuations.
However, this does not rule out the possibility of future expansion. Traders can still anticipate room for price expansion, especially if the buyers manage to push beyond the mid-level of the Bollinger Band indicator. Monitoring crypto signals will be crucial for anticipating these movements.
AVAXUSD Medium-Term Trend: Bearish (4-Hour Chart)
The 4-hour chart reveals a different story. The sellers are wielding strength, and an outbreak could potentially occur at any moment. Despite the fall, the price is likely to expand soon.
The Bollinger Bands are constricted around the 4-hour candlesticks. Even though the RSI (Relative Strength Index) has risen above the 50 mark, it is expected to drop back below due to the persistence of the sellers. Crypto signals can provide further insight into potential market shifts.
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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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