Avalanche Nearing Key Support, Is It Expecting Recovery Anytime Soon?

Avalanche Nearing Key Support, Is It Expecting Recovery Anytime Soon?
Avalanche (AVAX) has experienced a bearish week with several price floors being lost. However, in the last 24 hours, AVAX has moved up by 1.5%, suggesting a sideways trading session. The technical analysis indicates that bears still have control over AVAX, with decreased demand and accumulation. Buyers have lost interest due to previous bearish influence. Bitcoin’s price has been indecisive, losing the $27,000 price zone. Major altcoins have followed this trend. Although BTC has shown some recovery, overall market weakness has impacted buyer sentiment in the altcoin market. Related Reading: Stablecoins Interest Spikes As Traders Look To Exit Market AVAX is currently trading near a crucial support level, and further selling pressure could lead to significant value loss in upcoming trading sessions. Buyers need to intervene for the price to initiate a recovery. The market capitalization of AVAX has also declined, indicating increased selling strength on the chart. Avalanche Price Analysis: One-Day Chart At the time of writing, AVAX was priced at $15.40. Following a modest recovery, AVAX has surpassed the $15 threshold and is now positioned near its cr ..

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