The Avalanche price prediction reveals that AVAX may head to the downside as the dip is likely to get worse.
Avalanche Prediction Statistics Data:
- Avalanche price now – $17.99
- Avalanche market cap – $5.3 billion
- Avalanche circulating supply – 295.7 million
- Avalanche total supply – 404.2 million
- Avalanche Coinmarketcap ranking – #16
Resistance levels: $25, $27, $29
Support levels: $14, $12, $10
Your capital is at risk
AVAX/USD may not be able to follow the bullish movement as the coin moves below the 9-day and 21-day moving averages. The Avalanche price is currently trading at $17.99, which could face a downside if it crosses below the lower boundary of the channel.
Avalanche May Head to the South while the Tamadoge Keeps the Upside
The Avalanche price is moving sideways, and any bearish movement below the moving averages may increase the short-term selling pressure while the critical supports may come around $14, $12, and $10. Meanwhile, any bullish movement towards the upper boundary of the channel may hit the next resistance levels at $25, $27, and $29.
However, the technical indicator could start a new bearish session as the Relative Strength Index (14) moves below the 40-level. It is, however, not clear how long the session will last because, in the last few weeks, both bullish and bearish sessions have been frequent. Therefore, it is important to watch the resistance and support levels coupled with the movement of other indicators within the daily chart.
Against Bitcoin, the market price is hovering below the 9-day and 21-day moving averages as the coin trades around 9143 SAT. On the contrary, if the coin makes a cross above the moving averages, the bulls may push the price to the upside.
Meanwhile, if the market drops below the lower boundary of the channel, the price could hit the next key support at 8000 SAT and below. On the bullish side, a possible rise may push the market towards the upper boundary of the channel which could hit the resistance level of 1140 SAT and above. As revealed by the technical indicator, the Relative Strength Index (14) may begin to follow the downward movement as the signal line moves to cross below the 35-level.
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