Avalanche (AVAX) has experienced a bearish trend over the past few months, particularly after being rejected from the $17.50 price level. This rejection has allowed the bears to exert significant control over the price. In the last 24 hours, AVAX made a slight upward movement of 0.5%. On the weekly chart, it has lost approximately 3.5% of its value.
With the technical outlook on the daily timeframe, the bears have an advantage. Both demand and accumulation indicators remain low on the chart, indicating a decrease in buying strength.
It is worth noting that the recent volatility displayed by Bitcoin has influenced the price patterns of many altcoins, including AVAX. In order for altcoins like AVAX to surpass their immediate resistance levels, Bitcoin needs to stay above the $26,000 price mark.
Presently, AVAX is trading close to a critical support level. If sellers exert more pressure, the altcoin may experience a significant decline in value. The decrease in market capitalization for A
We współpracy z: https://www.newsbtc.com/avalanche/avalanche-approaches-vital-support-level-what-comes-next/
