Current Performance Overview
The token’s recent performance presents a concerning outlook:
- No price movement in the last 24 hours.
- A significant 7% loss over the past week.
- An 11% decline over the past month.
- A disappointing year-to-date return of -34.16%.
Technical Indicators and Selling Pressure
Technical indicators suggest increasing bearish pressure on AVAX:
- The Relative Strength Index (RSI) is on a significant downward trajectory, indicating rising selling pressure.
- The Simple Moving Average (SMA) remains a persistent resistance level on the daily chart, presenting challenges for price recovery.
Future Price Trajectory
Looking ahead, AVAX’s price trajectory will depend on its ability to:
- Maintain key support levels.
- Capitalize on any potential market recovery.
Potential Price Targets
A bullish reversal could see AVAX retesting the following price levels:
- Resistance at $31.50.
- Potential rise to $39.30 with sustained positive momentum.
However, market participants must remain vigilant of downside risks. If market uncertainty escalates, AVAX may retest the critical support trendline at $24.30. A breach of this level, particularly in a bearish Q4 environment, could lead to a more significant decline towards $17.30.
Ecosystem
Research
News Network
About