Avalanche Coin Analysis & Prediction (Dec 16th). – AVAX Remains Calm. Trading Sideways for Inbound Explosion

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The price of Avalanche has seen a lot of confusion in the months since the crash. The market has remained calm over the past months as volatility has continued to shrink. Avalanche has maintained a sideways movement. The price action is stuck in a tight range between $12 and $14 levels which acts as support or resistance. The price action is in a consolidation phase that could lead to a price explosion. This could happen anytime from now. Avax’s attempts at breaking the resistance level have failed since it reached a local bottom over the past month. The market is likely to fall further if this level continues to suppress bullish activities. If the market manages to regain the resistance level, however, we could see a short correction of $17.4 The market’s behavior is currently a bit tense. Before we can predict the next swing, we need to see clear signs of a break at the previously mentioned support and resistance levels. The trend is neutral-bearish at the moment. After a week of decline, the price has fallen by 4.2%. Source: TradingviewAn explosion is imminent. The price is currently at $12.7 A drop below the $12 support level will cause panic. In case of a collapse, there’s support at $11.45. In the event of a breakdown, there’s close support at $11.45
Trend: Neutral-Bearish
Moderate Volatility
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