Avalanche

The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/avalanche-price-analysis-how-low-can-avax-prices-go/">Avalanche Price Analysis: How Low Can AVAX Prices Go?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Following the remarkable recovery in early 2023, the AVAX price action enters a crushing correction phase. Experiencing extensive selling pressure at $21, the AVAX prices fail to find support at any crucial level for long.&nbsp; 
Bouncing back from $11 in June lit lamps of hope for Avalanche, leading to a 32% gain to reach $15. However, with higher price rejection, the AVAX prices reverse into a more severe correction.&nbsp; 
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 <img decoding="async" src="https://lh4.googleusercontent.com/5eDJBpbHXg4pstTp1XW49qR_mWG77TysZobpxhRvm9DlwNdoC9CjsRm0AEK-8TS6DMztgTuijRoDj7CTbWxxAPxhfb2PIXUQlvEVrdnch_BfyunhzBouI88lnSaLqWQuFqwj_196cGW4to2G2purmj4" alt=""> 
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Breaking one support level after another, the AVAX price even breaks the $12.15 support after a consolidation range. Trapped with the market-wide correction, the FUD skyrockets in the AVAX chart, dropping to $9.90 before closing at $10.58. 
Following multiple bearish candles with the spike in trading volume, the AVAX coin price finally retests the $10.78 mark. Moreover, the downfall vaporizes the YTD growth of Avalanche and drops it to a 1.15% loss. 
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 <img decoding="async" src="https://lh4.googleusercontent.com/ygmFMAHTu9g_NRRTRCg-pKKMQI2uRoTZ0s3tuumXXHSa2izHw6_J3tjv6WXC2hK_l9-17wGqkuV1smFB_ctiTgpAopi2qF3SOtZl2lIWOIYthj8CquyCVPSeD7OtThvuEH3AZCxYWigAKAXPPR0ajwY" alt=""> 
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The falling AVAX prices stretch the bottom support of the Bollinger band, with the stochastic RSI preparing a positive crossover. Moreover, the RSI line drops lowest in 2023, reflecting the sharp increase in underlying bearish sentiments. 
<h2 id="will-avax-prices-sustain-above-10" data-name="will-avax-prices-sustain-above-10" class="wp-block-heading">Will AVAX Prices Sustain Above $10?</h2> 
With the intense selling and crumbling market conditions, the AVAX price declines further if it drops below $10. However, the lower price rejection reflects smart money ready to buy the dip. Therefore, it seems challenging for the AVAX price to fall below $10.&nbsp; 
In a prolonged selling phase, the breakdown rally can reach $9.60. On the sunny side, closing above $11.19 may trigger a recovery phase.

Avalanche Price Analysis: How Low Can AVAX Prices Go?

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