Avalanche Price Prediction for Today, October 6

Avalanche Price Prediction for Today, October 6 – AVAX Technical Analysis

Updated: 06 October 2023

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The Avalanche price prediction consolidates in a flag formation as the bulls move to cross above the upper boundary of the channel.

Avalanche Prediction Statistics Data:

Avalanche price now – $10.09
Avalanche market cap – $3.5 billion
Avalanche circulating supply – 354.2 million
Avalanche total supply – 431.6 million
Avalanche Coinmarketcap ranking – #20

AVAX/USD Market

Key Levels:

Resistance levels: $11.50, $12.00, $12.50

Support levels: $8.00, $7.50, $7.00

Avalanche Price Prediction for Today, October 6 – AVAX Technical Analysis — AVAXUSD – Daily Chart

AVAX/USD bulls have taken control of the daily price chart following the current bullish movement within the channel, and the price is attempting to cross above the upper boundary of the channel. Looking at the chart, the coin is likely to spike toward the north if it touches the resistance level of $10.20.

Avalanche Price Prediction: AVAX Price Goes to the North

At the time of writing, the Avalanche price begins with a strong increase and it is moving with full force to cross above the channel. Meanwhile, a successful break above the upper boundary of the channel could accelerate gains and the price might surge toward the resistance level of $11.30. Any more gains could lead the price toward the resistance levels of $11.50, $12.00, and $12.50.

Nonetheless, if Avalanche begins a downside correction, it could find support near the $9.30 level. The first major support could be found at the $9.00 level, where the bulls are likely to take a stand. However, if the price drops below the moving averages, a bearish continuation could bring the market to the critical supports at $8.00, $7.50and $7.00 respectively.

AVAX/BTC Could Gain More Upsides

Against Bitcoin, the trend of the Avalanche (AVAX) is still bearish in the short-term, trading at 3635 SAT. Meanwhile, the coin at the moment is bearish and it is likely to hit the support level at 3000 SAT and below if slides below the 9-day and 21-day moving averages.

However, if the bulls maintain and hold the price very well, traders can expect the coin to rise above the upper boundary of the channel. For now, the nearest resistance level for the market could be found at 4200 SAT and above.

Avalanche Alternatives

The Avalanche price may remain on the positive side should the 9-day moving average stay above the 21-day moving average. Meanwhile, the current market movement is also confirming the bullish movement as the coin moves to cross above the channel.

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