The price of Avalanche (Avax) has been in the direction of a decline over the past two months, as it was currently trading at $ 27. Altcoin lost the main support floors, which caused the loss of Pisces investors.
Despite the constant pressure, there is still hope that AVAX will recover and bounce in the near future.
The collapse is under pressure
The current market morale of AVAX is pressure as the external flow of the whale reaches a three -month height. As the price decreased by 23 % this week, senior holders moved to sell their property.
About 10.08 million AVAX was sold more than $ 272 million in one day 48 hours ago. This shift in the investor’s behavior indicates the lack of confidence in the short -term recovery, as the whales choose to reduce their losses instead of adhering to their locations.
This trend highlights the increasing doubts between influential investors. The sale of the whale was a strong indication of the landfill, which affects the work of AVAX prices. Large portfolio holders are likely to focus on protecting their capital because the market is still volatile, which reflects caution between the base of the wider investors.
AVAX’s overall momentum shows signs of approaching saturation point in its landfill. RSI, a major technical indicator, hovering dangerously from dipping less than 30.0, indicates that AVAX is included in the sale area. Historically, as soon as the origin strikes the excessive sales area, it often led to the reflection of prices as the declining momentum begins to exhaust itself.
This proximity to Over -Prozs can be an opportunity for potential apostasy. Since more investors are likely to enter the market at low prices, Avax may start seeing some support from the deal fishermen, which contributes to a possible recovery. However, this is still uncertain, and market conditions will need stability in order to turn meaning.
Avax Prices: Take a few steps back
AVAX price is currently sitting at $ 27 after losing the support level of $ 31 at the end of last week. Altcoin has struggled with the declining direction over the past two months, and has added a lack of momentum in purchase only to the downward pressure. However, the current price exceeds the decisive support of $ 27, which may represent an opportunity to recover.
While continuous clouds are unlikely, given the saturated landfill, AVAX is still at risk of decline to $ 22 in the event of an exacerbation of the investor morale and more sales occur. The short -term landing pressure can continue, making it important for Altcoin to restore the main support levels to avoid more losses.
On the other hand, restoring 27 dollars may give AVAX an opportunity to recover about $ 31. The break above this level would nullify the landfill, which indicates that the reflection may be underway. If AVAX is able to violate the $ 31 barrier, it can recover some last losses and pave the theater for a more important crowd.
Disintegration
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