Avalanche

The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/avalanche-price-analysis-what-are-the-chances-of-avax-price-bouncing-back-from-10/">Avalanche Price Analysis: What Are The Chances Of AVAX Price Bouncing Back From $10?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
AVAX price today attempts another breakdown below the crucial $10 psychological mark. With an intraday fall of 1.10%, a bearish candle cracks below $10 and forms a low of $9.91.&nbsp; 
Closing below $10 will mark a strong downtrend and increase the bearish sentiment around Avalanche in the market.&nbsp; 
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In the 1-day Avalanche chart, the AVAX price trend displays a sharp correction that evaporates the early 2023 bull run gains. With a YTD loss of 7.93%, the recent correction breaks down many crucial demand blocks.&nbsp; 
The <a href="https://coinpedia.org/price-prediction/avalanche-avax-price-prediction/" rel="noopener noreferrer nofollow">AVAX price</a> action makes a falling wedge framework with the ongoing correction as its negative cycle. The down cycle accounts for a 32% drop in the last 40 days and is yet to reach the support trendline.&nbsp; 
However, the daily RSI line recovers and spikes positively in the oversold arena, signaling a bullish divergence.&nbsp; 
<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 buyers struggling to hold off the AVAX prices above $10, the increasing selling pressure warns of a continuation. The negative cycle might reach the support trendline of the falling wedge. Moreover, the delay in overall market recovery continues to pressurize altcoins and may crash the AVAX price.&nbsp; 
Hence, the breakdown of $10 seems inevitable, and it will mark a selling opportunity until it reaches the trendline close to $9.30. A support level of $9.60 is a level to watch out for sellers.&nbsp; 
On the flip side, as RSI predicts, a recovery trend bounces from $10 the AVAX price may recover to $12.30.

Avalanche Price Analysis: What Are The Chances Of AVAX Price Bouncing Back From $10?

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