Avalanche Price Analysis – May 27
The Avalanche price is down by 1.74% over the last 24 hours. The next support of the coin may likely come at the $20 level.
AVAX/USD Market
Key Levels:
Resistance levels: $40, $42, $44
Support levels: $10, $8, $6
AVAX/USD is falling beneath the long-term support at $25, which is now subjected to the price actions below the 9-day and 21-day moving averages over the past few hours of trading. As the bears take charge, the coin may lose momentum to the lower side of the channel along with a potential price surge. Meanwhile, the technical indicator Relative Strength Index (14) on the daily chart is bearish and continues to issue sell signals.
Avalanche Price Analysis: Avalanche (AVAX) May Fall More
According to the daily chart, if the Avalanche price decides to stay under the control of bears, the price may likely drop to the nearest supports at $10, $8, and $6. On the upside, the bulls need to push the market price above the 9-day and 21-day moving averages to reach the potential resistance levels of $40, $42, and $44.
AVAX/BTC Market: AVAX Price Keeps Moving to the South
When compared with Bitcoin, the Avalanche market is seen heading to the downside where the price is expected to break below the lower boundary of the channel. Therefore, should the price cross below this barrier, the market could experience more downtrends which may touch the nearest support level of 500 SAT and below.
On the contrary, if the bulls could gather and push the market towards the upper boundary of the channel, the AVAX price may reach the resistance level of 1100 SAT and above. More so, the technical indicator Relative Strength Index (14) confirms that the market is been controlled by the sellers as the signal line moves within the oversold region.
