AVAX slides down from $17.73 to $17.55 today, losing $0.179 (1%).
Concerning technical analysis and more specifically, trend indicators, Avalanche made an initial break below its 50 day Simple Moving Average at $17.52, a possible indication of a forthcoming negative trend. Price action remains constrained around the key Fibonacci level of $17.6 currently serving as support. If price action breaks below, the next Fib hurdle is $16.48. Analysis based on the asset volatility indicates that Avalanche's lower Bollinger Band® is at $15.86, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Following today's trading session, chart analysis suggests AVAX bounced after reaching the $17.34 support zone, climbing 21 cents above it.
Overall, the technical outlook suggests AVAX is likely to remain muted for the immediate future, with no clear-cut direction.
Other assets are showing positive performances as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Solana increases 4.51% to trade around $23.35. Having closed the previous session at $0.467, Ripple is up 2.47% today to currently trade at around $0.478.
Avalanche reached a significant high of $67.6 around a year ago but has lost 73.77% since then. Avalanche has a market cap of 5.75 billion with an average daily volume of 221.73 million.