Avalanche

The post <a href="https://coinpedia.org/price-analysis/avalanche-price-analysis-avax-price-holds-at-10-as-spartan-like-buyers-challenge-falling-channel/" rel="noopener noreferrer nofollow">Avalanche Price Analysis: AVAX Price Holds At $10 As Spartan-like Buyers Challenge Falling Channel</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>Maintaining a downtrend for almost two months now, the <a href="https://coinpedia.org/price-analysis/avalanche-price-analysis-what-are-the-chances-of-avax-price-bouncing-back-from-10/" rel="noopener noreferrer nofollow">AVAX coin price</a> lost 37% to drop to $10 from the swing high of $15.99. Creating a falling channel pattern in the 4-hour chart, the Avalanche price undergoes a bearish avalanche phase.&nbsp;Breaking multiple support levels between $16 and $10, the downtrend finally finds a spot of multiple support contacts. Increasing the likelihood of a bounce back, the AVAX price might soon break above the resistance trendline.&nbsp;<figure class="wp-block-image"><img src="https://lh4.googleusercontent.com/duyuTJI56eRRy0I5T-YOdovkddrARx9azcdpGgdst3KnSfG56Bdsp9MWgYHK3X2YHcsu9-h7y4l9u6WEgdCWV06_NhX_RlvRaRa7Iq_k0f2C9Osztpp0mBFQm8qY4niA7PbGDFqR9zL5i1xz05L1S4A" alt=""><figcaption class="wp-element-caption"> Trading View </figcaption></figure>Creating a barrage of bearish candles and struggling to bounce back from the $10 demand belt, the <a href="https://coinpedia.org/price-analysis/avalanche-price-analysis-how-low-can-avax-prices-go/" rel="noopener noreferrer nofollow">AVAX price</a> is under tremendous selling pressure. With RSI and MACD indicators bearish in the 40-hour chart, the weekly charts present a similar scenario.&nbsp;Also Read: <a href="https://coinpedia.org/price-prediction/avalanche-avax-price-prediction/" rel="noopener noreferrer nofollow">Avalanche Price Prediction 2023 – 2025: Dropping to $12, Will AVAX Make A Comeback in 2023?</a><figure class="wp-block-image"><img src="https://lh6.googleusercontent.com/4o1JU5EbDcwCJzhKez-wesHiJ_MsJqMef6L7DbQAxVCA7fMxfEkjXE9trMaEGKXpM7lHclx8ImqPJYQWcQVwDRftx2kZjJ73CdZCvNNGG-1y2dsGZ3999Er6KBIlaCi6jIIk3Y4hEmH-T_pkyhRZJlw" alt=""><figcaption class="wp-element-caption"> Trading View </figcaption></figure>Creating lower high formation in the bear market, AVAX price action signifies the $10 demand belt as a point of no return if it breaks below it. With a descending triangle clear as the day in the weekly chart, <a href="https://coinpedia.org/price-analysis/avax-price-analysis-closer-to-12-is-avax-planning-a-bounceback-this-month/" rel="noopener noreferrer nofollow">Avalanche price struggles to bounce back with a positive cycle</a>.&nbsp;The $10 zone has provided a cushion to absorb the supply inflow and helped AVAX reach the $151 height since 2021. However, the 46% drop in the last three months warns of a bearish breakdown.&nbsp;<h2 id="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 possibility of <a href="https://coinpedia.org/price-analysis/avax-price-analysis-high-anticipations-for-avalanche-hints-channel-breakout/" rel="noopener noreferrer nofollow">AVAX</a> prices declining below $10 increases. In a prolonged selling phase, the breakdown rally can reach $6.20 as per the weekly chart.&nbsp;On the sunny side, closing above $11.19 may trigger a recovery phase, leading to the channel breakout.

Avalanche Price Analysis: AVAX Price Holds At $10 As Spartan-like Buyers Challenge Falling Channel

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