Avalanche

Time

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/avalanche-avax-faces-a-downtrend-is-it-time-to-sell/" data-wpel-link="internal">Avalanche (AVAX) Faces a Downtrend: Is It Time to Sell?</a><br></p>
<p style="text-align: justify">In the last 30 days, <strong><a href="https://en.coin-turk.com/avalanche-avax-a-promising-project-in-the-crypto-market/" data-wpel-link="internal">Avalanche</a> (AVAX)</strong> has experienced a loss of 14.36% in value. This performance contrasts with the significant rally the cryptocurrency had in 2023. However, it is suggested that after a 90-day increase of 292%, a season of profit-taking like AVAX is experiencing could ensue. Is the downtrend only temporary, or should AVAX holders brace for a longer bearish period?</p> 
<h2 id="potential-for-profit-taking-in-avax">Potential for Profit-Taking in AVAX</h2> 
<p style="text-align: justify">According to the 4-hour AVAX/USDT chart, demand for the <strong>token</strong> has decreased. There has been a notable decline from the period when it rose from $8 to $50. However, at the time of writing, AVAX’s price was below the 20 EMA and 50 EMA. This position could be considered a negative signal. Consequently, the outlook for <strong>AVAX</strong> remains bearish. This claim is also supported by the death cross, where the 50 EMA crossed above the 20 EMA.</p> 
<p style="text-align: justify">Additionally, the 0.786 Fibonacci retracement level could indicate that <strong>AVAX</strong> may pull back to $35.07 before impacting any demand price. The Relative Strength Index (RSI) was also at 46.93 at the time of writing, which could indicate that bullish forces no longer control the momentum. If buying pressure does not increase, AVAX may not recover before another decline.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-303536 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/avax.webp" alt="" width="1386" height="829"></p> 
<h2 id="liquidations-in-avax">Liquidations in AVAX</h2> 
<p style="text-align: justify">Signals from the liquidation map indicate that short targets below $35 should be cautious. Liquidation occurs when an investor’s position is closed due to price volatility and the margin balance cannot cover the funding fee. Therefore, the liquidation map shows potential price levels where these liquidations could occur. High leverage long positions may also face a barrier between $38 and $40. According to <strong>Santiment</strong>, the funding rate is shown to be 0.01%.</p> 
<p style="text-align: justify">Experts’ analysis of the metric revealed that it has remained the same since January 9. The funding rate is the cost of holding an open perpetual position in the market. A negative funding rate means that open short positions are paying the funding fee for longs. However, since the funding rate is positive, it could mean that both long and short positions are active.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/avalanche-avax-faces-a-downtrend-is-it-time-to-sell/" data-wpel-link="internal">Avalanche (AVAX) Faces a Downtrend: Is It Time to Sell?</a></h5>

Avalanche (AVAX) Faces a Downtrend: Is It Time to Sell?

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