Ethereum

Million

Resistance

Avalanche

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Avalanche price (AVAX) slid 1.89% in the last 24 hours and is currently trading at $10.02.</a> </li> 
 <li> <span>2</span> <a>Avalanche price (AVAX) is declining forming an interesting channel pattern over the daily timeframe.&nbsp;</a> </li> 
</ul> 
<p>The AVAX price has been in a continuous declining trend losing all the gains and continuing with the further decline forming lower lows and lower highs. The price is in a continuous decline trend after a short-term surge in January 2023. Since then the price has wiped out out more than 50% of its value still continuing with the trend.&nbsp;</p> 
<p>The daily chart shows that the crypto has been following a channel pattern and declining continuously suffering multiple rejections from the upper levels.&nbsp;</p> 
<p>Recently, the price tried a recovery from the $10 level and surged higher but failed to break above the channel pattern and declined. The sellers took the price hike as an opportunity to sell on the rise and short-sell aggressively which again dumped the price back eroding the gains.</p> 
<p>Avalanche (AVAX) is a blockchain platform for decentralized apps and custom networks. It competes with Ethereum as the top smart contract blockchain. It claims to have faster and more scalable transactions of up to 6,500 per second.</p> 
<h2 class="wp-block-heading" id="strong-avalanche-price-prediction-using-price-action-strategy-strong"><strong>Avalanche Price Prediction Using Price Action Strategy</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/fFv47OYegIXRwsv7A62KZKlEZprNA5okCOr-ubzbuWTtEzy0uQBF30UHVIxjd4rwzdiUfoIJQy-bM1CKknVDdif1ZxnfX4UjmXgTdFVT0OHKjTB3WHxY8OscTPvQtfbz6KInXLumRAEbuzGirUFsx28" alt="Avalanche Price Prediction: Can&nbsp; AVAX Crash Below the $10 Mark?"> 
  <figcaption class="wp-element-caption">
    Source: AVAX/USD By <a href="https://www.tradingview.com/x/E9ff22G1/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>The analysts observe that the price may decline more as the bears have taken control of the game. The price could not sustain above the key moving average which is 50 EMA indicating the weakness in <a href="https://www.thecoinrepublic.com/2023/08/18/avalanche-price-prediction-will-avax-defend-10-and-reverse-up/" rel="noopener noreferrer nofollow">the crypto</a> in the short term.&nbsp;</p> 
<p>The price is trading in a parallel channel pattern and declining suffering rejections from the upper levels. The short-term outlook of the price trend states that the price may remain bearish until it remains in the channel. The long-term trend is already bearish which shows weakness on the charts.</p> 
<p>However, the breakout of the channel may give some hope for buyers to enter the game. However, it requires the price to consolidate at the lower levels and show bullishness over the charts.&nbsp;</p> 
<p>Also, the volume analysis shows that the volume received is less than the average volume indicating the weakness in the market. The AVAX token has received a $105.02 Million volume in the past 24 hours which is nearly 19.44% more than the past day. The price may keep correcting until it gets enough buyers to surpass the upper supply zone.</p> 
<h3 class="wp-block-heading" id="strong-avax-price-forecast-from-indicators-point-of-view-strong"><strong>AVAX Price Forecast from Indicators’ point of view</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/OgqauatNcyVSFoYs3jDOXePud--5OUypUHHp_VpsgV25at8-3EH2AXKVDS9cjy_2iZjTpbZHYjd0wa-Y8v7aQhRwpi3OPoH2F-hgDdR2srx36WlTK2Mj5jY_QV0-mg49gvl6hVOE3XAFfJM3xoN1MAA" alt="Avalanche Price Prediction: Can&nbsp; AVAX Crash Below the $10 Mark?"> 
  <figcaption class="wp-element-caption">
    Source: AVAX/USD By <a href="https://www.tradingview.com/x/E9ff22G1/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>As per the EMA analysis, the AVAX price could not sustain above the 50 and 200 EMA indicating the weakness on the charts.&nbsp;&nbsp;</p> 
<p>MACD lines have made a bearish crossover. Also, Histogram bars are being formed below the mean line with increasing height indicating the dominance of sellers in the market.</p> 
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h3> 
<p><a href="https://www.thecoinrepublic.com/2023/08/18/avalanche-price-prediction-will-avax-defend-10-and-reverse-up/" rel="noopener noreferrer nofollow">The Avalanche price</a> has been falling continuously, forming lower lows and lower highs. The price is in a channel pattern and faces rejections from the upper levels. The price is below the 50 EMA, indicating short-term weakness. The price may remain bearish until it breaks out of the channel. The long-term trend is also bearish. The volume is low, showing a lack of buyers. The price needs to consolidate and show bullishness to reverse the trend.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support levels:</strong> $10.04 and $7.54.</li> 
 <li><strong>Resistance levels:</strong> $12.50 and $15.05.</li> 
</ul> 
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

Avalanche Price Prediction: Can AVAX Crash Below the $10 Mark?

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Thecoinrepublic.com

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