The breakdown price carries less than 20 dollars, low price is not possible to raise the price
The price of Avalanche (Avax) was unable to restore the support level of $ 20.00 after falling into the last correction. Altcoin is now much lower than that of the main mark despite the noticeable decrease in the sale of pressure.
However, the bullish momentum was not strong enough to face the prevailing sermon.
The collapse investors do not sell
The active address profit analysis reveals that less than 3 % of the current participants are in profit. This data highlights decisive details: Most AVAX holders are unwilling to sell. Instead, it appears to be in anticipation of recovery. This deficiency in the sale is an upper indicator.
The patience that investors have shown during this recession can help create a stronger base once the conditions of the wider market stabilize. Since fewer sales holders are actively sold, the downward pressure is reduced on the price of AVAX. Looking at the appropriate market stimuli, this opens a window to wear altcoin.
Although the sales activity is low, technical indicators continue to indicate weakness. The RSI (RSI) index returned to the Habboudia area after trying to recover. This indicates that there is no pressure and continuity of uncertainty among investors.
Market support was not present in AVAX in the last sessions, preventing a meaningful recovery. Altcoin faces consistent resistance and failure to generate a strong upward momentum.
RSI’s direction promotes that the total environment is still tending to drop, while maintaining collapse.
The price of AVAX is weak
Avalanche is currently $ 17.19, which represents a 25 % decrease in the past two weeks. The sharp decline came after AVAX failed to penetrate the resistance level $ 22.87. This rejection led to the current monotheism to less than $ 20.00, with bulls in the inability of the direction.
Looking at the current market signals, Avalanche may be struggled to recover $ 18.27 as a support level. If Altcoin fails to secure this level, it risk declining to $ 16.25. This would deepen investor losses and delay any opportunities for recovery.
On the upper side, a major transformation may occur if AVAX from the heart of $ 19.86 can support. This would refer to strengthening bullish feelings and opening the door to a gathering of about $ 22.87. This level can be allowed to recover some recent losses and restore investor confidence.
Disintegration
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