Without a clear-cut direction, Avalanche is trading around $17.02 and ranging between $16.93 and $17.16.
AVAX chart analysis: Avalanche is approaching key support, around 26 cents away from $16.76. 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. Trend and momentum analysis indicates that Avalanche made an initial break below its 5 day Simple Moving Average at $16.93, a possible indication of a forthcoming negative trend. Analysis based on the asset volatility indicates that AVAX's upper Bollinger Band® is at $20.06 and the lower is $15.26.
All in all, the technical analysis suggests AVAX has no clear-cut direction.
While Avalanche is pretty flat so far today, mixed performances are seen elsewhere as FTX Token is up 9.54%. After ending today's session at $6.63, UNICORN Token USD lost $0.197 and is trading around $6.43. TRON ascends 0.77% to trade around $0.07.
Having set a significant high of $58.36 a year ago, Avalanche is trading 71% lower. Avalanche is currently trading with a market cap of 5.62 billion with an average daily volume of 215.21 million.