AVAIL, the native cryptocurrency of the Avail platform, was recently listed on Binance Alpha, attracting attention to its potential value and future in the market.
Announcement of the listing on Binance Alpha
On June 20, crypto exchange Binance announced the addition of AVAIL to its Binance Alpha platform, a section dedicated to promising Web3 projects. As part of the launch, Binance Alpha also initiated an airdrop campaign where users can claim AVAIL tokens using their Alpha Points, part of Binance's rewards system.
Characteristics of AVAIL and market indicators
Following the listing, the price of AVAIL dropped over 8%, trading at approximately $0.028 at the time of writing. This decline is likely due to the sell-off of tokens received through the airdrop. AVAIL initially conducted its Token Generation Event on July 23, 2024, and is already listed on other major exchanges including HTX, Gate, KuCoin, and Bybit.
Forecasts and current market status
AVAIL is approaching the upper boundary of a multi-week descending wedge, historically signaling a potential bullish reversal. However, the token continues to trade below its 50-day simple moving average, indicating short-term bearish sentiment persists. Forecasts suggest the likelihood of further declines towards the support level around $0.025.
The listing of AVAIL on Binance Alpha could significantly influence its development, but the current market state indicates the possibility of continued decline. Investors should remain vigilant regarding changes and unfolding events.
