Avalanche Coin’s Price Hangs in the Balance Up or Down?
Avalanche (AVAX) has seen a significant increase in price, surpassing an important threshold in recent trading sessions. Over the past 24 hours, AVAX saw a rise of 6%, while its weekly chart shows an appreciable gain of over 17%.
However, the technical outlook for Avalanche is showing mixed signals with a slight inclination toward bearish momentum in the market. Although there have been efforts to increase demand, it has not shown significant improvement, and accumulation remains low according to the chart.
While Bitcoin has returned to the $30,000 price level, leading to optimism in the altcoin market, including Avalanche, it is important to note that Avalanche and other altcoins have not completely overcome their challenges.
Related Reading: AVAX Breaches $13 Barrier With 16% Rally – What’s The Next Price Level To Watch?
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For AVAX to see a bullish trend, it must surpass a crucial threshold of $13, allowing the bulls to take control of the price. Additionally, the stability of Bitcoin’s price is crucial for overall market strength. AVAX has experienced a decline in market capitalization, indicating reduced buying power reflected on the chart.
Avalanche Price Analysis: One-Day Chart
