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The Avalanche price prediction shows that AVAX could spike above the 9-day moving average or extend the market movement toward the south.
Key Levels:
Resistance levels: $13, $14, $15
Support levels: $8, $7, $6
AVAX/USD is currently moving sideways but the coin has not been able to sustain a steady uptrend over the past few days. However, the Avalanche price has formed a pattern where the day could begin either with an up or down trend, but the coin reverses toward the end of the day.
The Avalanche price may continue to consolidate itself in a flag formation, waiting for a cross above the 9-day and 21-day moving averages. However, the daily breakdown reveals that the AVAX price may drop to the support level of $9.5 before heading to the upside. Meanwhile, if the support level of $10 gets weak, a price breakdown may occur and the bears could locate the supports at $8, $7, and $6 respectively.
Meanwhile, a bullish movement may continue and this could push the market price toward the resistance levels of $13, $14, and $15. For now, the Relative Strength Index (14) is moving to cross above the 30-level as the signal line points to the upside.
Against Bitcoin, the Avalanche bulls may continue to push the coin toward the upper boundary of the channel and this could increase the bullish signals in the market. Meanwhile, if the AVAX price drops, sellers could pose a threat to buyers and any breakdown toward the lower boundary of the channel may cause the coin to collapse.
Nevertheless, for a positive upsurge, 4500 SAT and above could be the major resistance level for the coin, but any bearish movement could hit the important support at 3300 SAT and below. The technical indicator Relative Strength Index (14) is likely to cross above the 40-level, which could take the price to the positive side.
The Avalanche price is hovering around the resistance level of $10.19 as the coin trades near the 9-day moving average to touch the resistance level of $10.23. The Avalanche may continue to move upwards if the price crosses above the 9-day and 21-day moving averages.
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Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management. Azeez provides daily articles covering the price movements of major cryptocurrencies, and has contributed to a range of respected publications and trading magazines. Find his other published work on Learn2.trade, and…
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