Avalanche (AVAX) is trending downward, currently priced at $19. Recent days have shown price declines and increasing bearish pressure.
Current AVAX Price Situation
Avalanche shows signs of decline, trading at $19, marking a 1.23% drop over the last 24 hours. The price dynamic over the past month has formed lower highs and lows.
Technical Indicator Analysis
Analysis of the 1-day chart confirms the prevailing bearish pressure. Bulls failed to hold above the $19 resistance level, and indicators such as MACD and moving averages signal a strong sell.
AVAX Prospects and Support Levels
Analyst Ali Martinez indicated that if the selling pressure continues, AVAX may find support at $16. This level was crucial for price recovery in the past, and many expect bulls to try to defend it.
Given the current bearish trend, support at $16 could be crucial for AVAX. Failure to defend this level may lead to further price declines.
