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The Avalanche price forecast shows that AVAX could spike above the 9-day moving average or extend the market move south.
Avalanche forecast statistics data:
- Avalanche price now – $10.19
- Avalanche market cap – $3.6 billion
- Circulating avalanche supply – 353.4 million
- Total avalanche supply – 430.8 million
- Avalanche Coinmarketcap Ranking – #19
AVAX/USD Market
Key Levels:
Resistance Levels: $13, $14, $15
Support Levels: $8, $7, $6
AVAX/USD is currently moving sideways, but the coin has been unable to maintain a steady upward trend over the past few days. However, the Avalanche price has formed a pattern where the day could start with an uptrend or downtrend, but the coin reverses towards the end of the day.
Avalanche Price Prediction: What to Expect from Avalanche (AVAX)
Avalanche price may continue to consolidate in a flag formation, waiting for a crossover above the 9-day and 21-day moving averages. However, the daily breakdown shows that AVAX price could decline towards the USD 9.5 support level before moving higher. If the USD 10 support level becomes weak, a price decline could occur and the bears could find the support points at USD 8, USD 7 and USD 6 respectively.
Meanwhile, a bullish move could continue and could push the market price towards the USD 13, USD 14 and USD 15 resistance levels. For now, the Relative Strength Index (14) is moving above the 30 level, while the signal line points upwards.
AVAX/BTC Bulls can continue to play out
Against Bitcoin, the Avalanche bulls could continue to push the coin to the upper limit of the channel and this could amplify the bullish signals in the market. Meanwhile, if the AVAX price falls, sellers can threaten buyers and any failure towards the channel’s lower boundary could cause the coin to collapse.
Nevertheless, 4500 SAT and above for a positive increase could be the main resistance level for the coin, but any bearish move could hit the important support at 3300 SAT and below. The Relative Strength Index (14) technical indicator is likely to break above the 40 level, which could lift the price to the upside.
Alternatives to Avalanche
Avalanche price is hovering around the USD 10.19 resistance level while the coin is trading near the 9-day moving average and touching the USD 10.23 resistance level. The Avalanche may continue to rise if the price moves above the 9-day and 21-day moving averages.
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