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AVAX Price Prediction: Could AVAX Drop Below $14?

 


The AVAX price is still in the downtrend and could soon reach the last low at around USD 14.


Avalanche course forecast: AVAX course continues to descend!

Two weeks ago we wrote in the last AVAX price forecast : “AVAX price broke the golden ratio support at around USD 20 in a bearish manner and briefly fell to around USD 17.5. Currently, the AVAX price seems to find a small support at around USD 18.65,  but with the break of the golden ratio at around USD 20, the AVAX price may soon go to the last low at USD 13.7.


In the daily chart, however, the histogram of the MACDs has been ticking bullishly higher for a few days and the MACD lines could soon cross in a bullish manner. The RSI is neutral, but is close to oversold regions.”


AVAX price was rejected in a bearish manner at the 50-day EMA

AVAX price was bearishly rejected at around $21.26 a few days ago at the 50-day EMA. Also, the MACD lines on the daily chart are about to cross bearishly. Additionally, the MACD histogram is ticking bearish lower.


The RSI shows a slight bullish divergence. If AVAX now tries again to break the 50-day EMA at around USD 21.3, the next significant Fibonacci resistances are waiting at around USD 22.7 and USD 26.


Apart from that, there is a death cross in the daily chart, which confirms the trend bearishly in the short to medium term.


In the 4H chart, the Death Cross remains intact

There is also a death cross in the 4H chart, which confirms the short-term bearish trend . The 50-4H EMA is already acting as significant resistance around $19, while the 200-4H EMA is acting as significant resistance around $20.6.


In contrast to the daily chart, the MACD is clearly bullish on the 4H chart. The histogram is ticking bullishly higher and the MACD lines are also bullishly crossed.


In the weekly chart, the MACD is still bullish

The MACD is also clearly bullish in the weekly chart. The MACD histogram is ticking bullishly higher for the third week in a row and the MACD lines are also crossed bullishly.


In addition, the AVAX price formed a higher low two weeks ago, which is initially bullish. However, AVAX seems to continue the downtrend this week.


AVAX finds significant support between USD 13.7 and USD 16.3 at the latest. On the upside, the golden ratio around USD 29 acts as the key resistance. A bullish break ends the correction.


Between USD 9 and USD 12, the last support is waiting for the AVAX price

Otherwise, AVAX only finds significant support again between USD 9 and USD 12. The Avalanche price could very well return to the last low at around USD 13.7 in the next few days to weeks or possibly fall even lower.


Against BTC, the Avalanche price could soon bounce off the Golden Ratio support

Against BTC, AVAX price is close to hitting golden ratio support around 0.00085 BTC. The AVAX course could bounce off very strongly from this.


Otherwise, the weekly MACD is clearly bearish as the histogram has been ticking bearishly lower for a few weeks and the MACD lines are on the verge of a bearish crossover. The RSI is neutral and gives neither bullish nor bearish signals.


DISCLAIMER

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action taken by the reader based on the information found on our website is entirely at their own risk.

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