AVAX recovering almost all the way back to $17.77 today, after dipping down to $17.29.
Avalanche made an initial break below its 200 day Simple Moving Average at $17.33, a possible indication of a forthcoming negative trend. On the other hand, note that AVAX's lower Bollinger Band® is at $16.78, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Avalanche could begin to recover as it approaches significant support, now 17 cents away from $17.39. Dipping below could be an indication that further losses are ahead.
In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for Avalanche.
In the meantime, negative performances are also seen in other markets, Binance Coin is down $11.75 from the beginning of the session and now trades around $300.69.
Other assets are showing positive performances as UNICORN Token USD shoots up 2,608,144% to trade around $6.31. Having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.
10 months ago AVAX reached a significant high of $99.74 but has consequently lost 82.18% since then. AVAX is currently trading with a market cap of 5.53 billion with an average daily volume of 78.73 million.