📉 AVALANCHE PRICE ANALYSIS & PREDICTION (MARCH 21) – AVAX REMAINS INDECISIVE AMIDST LATEST RECOVERY, DOWN 4% WEEKLY
📉 Despite the latest increase in the global market cap, Avalanche’s price remained down, consolidating on the daily timeframe. A drop below its weekly low could trigger a short-term retracement.
📉 Avax weathered the recent crypto meltdown better than most, maintaining its consolidation phase above $50, despite widespread drops among altcoins.
📈 The consolidation phase brought multiple rejections, yet the technical trend remains bullish.
🚀 Anticipating the next move, Avax is poised to sustain momentum, especially with a surge above last week’s high potentially leading to more rallies.
📉 Recent multiple rejections have made it challenging for bears to push the price below consolidation levels, potentially shifting the trend downwards.
📉 If a downtrend ensues, $45 could serve as a critical rebound level after last week’s surge, potentially prompting a major price correction before resuming positive momentum.
📉 Holding above $50, a drop could lead to a significant crackdown to $45.5, with further support at $40.
🚀 Currently facing weekly resistance at $58, $61.45, and $65.4, breaking through could pave the way for increases to $70 and beyond.
⚡️ Key Resistance Levels: $58, $61.45, $65.4
⚡️ Key Support Levels: $50, $45.2, $40
💲 Spot Price: $54.6
📈 Trend: Bullish
📊 Volatility: High
