Without a clear-cut direction, Avalanche is trading around $13.19 and ranging between $13.11 and $13.31.
Avalanche made an initial break below its 10 day Simple Moving Average at $13.2, a possible indication of a forthcoming negative trend. Avalanche's upper Bollinger Band® is at $14, suggesting that a downward move may follow. On the other hand, note that Avalanche is approaching key support, around 65 cents away from $12.54. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Despite the market lacking direction, technical chart analysis strongly suggests Avalanche is positioned for a downward move in the near term.
Meanwhile, mixed performances are seen elsewhere as FTX Token retreats 3.94% to trade around $1.34. Litecoin is down $1.22 from the beginning of the session and now trades around $75.74. NEAR Protocol is down to $1.66, losing $0.034, after closing at $1.69 in the preceding trading session.
AVAX is now trading 89.24% below the significant high of $123.33 it set around 11 months ago. Avalanche is currently trading with a market cap of 4 billion with an average daily volume of 12.94 million.