The Avalanche price prediction may set a bearish run as the RSI Indicator is about to cross while still below the level 40. This crossing might result in a downtrend.
Avalanche Price Prediction Statistics:
Avalanche’s current price: $22.98
Market Cap: $6.4 billion
Circulating Supply: 280.8 million
Total Supply: 04.2 million
Rank: 15
Key Levels:
Resistance Levels: $69.15, $32.08, $29.10
Support Levels: $55.08, $22.49, $21.22
AVE/USD is sliding downwards towards the 22.77 price level at the time of writing. Ever since April, the crypto has been recording losses, as the price channel is a downward sloping channel. AVE may continue within the price channel if the 9 and 21 Moving average should cross above the price action.
Avalanche Price Prediction: Avalanche Not Ready for an Uptrend
On a 1-Day chart, the Avalanche price is gliding around $22.77 at the time of writing. The crossing of the price action below the 9-days moving average could constrain the price action within the price channel. It is possible that traders will not experience an uptrend unless the RSI crosses above the level of 40. Looking at the daily chart RSI, we can see that it is about to cross each other, meaning that the price will fall lower. As it stands, the Avalanche price action may find another resistance at $22.77 and lower.
Conclusion
It is possible that the Price action moves sideways for a while. However, if the price action should move towards the lower channel, this may bring the coin to the long term support levels of $55.08, $22.49, and $21.22.
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