• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

AVAX Bearish Trend: Analysis and Forecast

user avatar

by Giorgi Kostiuk

3 months ago


AVAX, the native token of Avalanche, is showing bearish sentiment and may face a price decline. However, the current market sentiment is unpredictable, with some cryptocurrencies experiencing price surges, while others see significant declines.

AVAX Technical Analysis and Price Action

Amid current events, AVAX has reached a crucial support level of $35 and is struggling to hold it. Since December 2024, the altcoin has reached this level multiple times, each time witnessing a price surge. However, the current market sentiment appears unfavorable for AVAX, suggesting potential failure to hold this level. Based on recent price action and historical momentum, if AVAX fails to hold and closes a daily candle below $34.50, it could drop by 14% to reach the $29 level in the coming days.

Traders’ Bearish Outlook

Market sentiment shows that traders are heavily betting on short positions, as reported by on-chain analytics firm Coinglass. At the time of writing, the AVAX long/short ratio stands at 0.85, indicating bearish sentiment among traders. Data further reveals that 54.5% of top AVAX traders currently hold short positions, while 45.5% hold long positions.

Long-Term Holders' Perspective

Despite the bearish sentiment, long-term holders are showing interest in AVAX. Spot inflow/outflow data indicates an exchange outflow of AVAX worth $5.90 million in the past 24 hours, suggesting long-term investor sentiment betting on AVAX. Currently, AVAX is trading near $34.96, having declined by 6.35% over the past 24 hours. During the same period, its trading volume increased by 30%, indicating rising participation from traders and investors compared to the previous day.

AVAX finds itself under pressure from market realities and trader sentiment. Despite this, long-term investors see potential opportunities in the asset, hoping for future growth.

0

Share

Other news

Michael Saylor: BlackRock IBIT Could Become the Largest ETF in the World

Michael Saylor predicts BlackRock's Bitcoin ETF will rank first among ETFs within ten years.

user avatarGiorgi Kostiuk

15 minutes ago

DeFi Development Corp Plans to Raise $1 Billion for Solana Token Purchases

DeFi Development Corp files with SEC to raise $1 billion targeting an increase in its Solana token holdings.

user avatarGiorgi Kostiuk

15 minutes ago

Raphael Coin Unveils Tokenized Renaissance Piece: A New Era for Art

Raphael Coin has launched the token 'Recto: Study for the Battle of the Milvian Bridge', offering fractional ownership of a Renaissance artwork.

user avatarGiorgi Kostiuk

16 minutes ago

MAGACOINFINANCE: New Opportunities and Growth Predictions

Analysis of the growing interest in MAGACOINFINANCE and the opportunities it offers against other cryptocurrencies.

user avatarGiorgi Kostiuk

17 minutes ago

Altcoin Market Overview: Shiba Inu, Hedera, and Emerging Player Web3 ai

Examining the current state of Shiba Inu and Hedera altcoins, along with the prospects of Web3 ai amidst market changes.

user avatarGiorgi Kostiuk

an hour ago

Troller Cat: A New Hope in the Meme Coin Market

Troller Cat may become the next successful meme coin amid the growing popularity of meme culture in the crypto industry.

user avatarGiorgi Kostiuk

an hour ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.