Resistance

Avalanche

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/avax-price-decline-continues" rel="noopener noreferrer nofollow">AVAX Price Decline Continues</a><br></p>
<p style="text-align: justify">AVAX, the native cryptocurrency of the <a href="https://en.bitcoinhaber.net/corporate-investors-tokenize-avax-credit-expanding-defi-capabilities" rel="noopener noreferrer nofollow">Avalanche</a> Blockchain, is currently experiencing a significant <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank">price</a> decline, having recently dropped from a high of $65. As of the latest data, AVAX ranks 12th in <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank">market</a> value and has a total supply of 440,043,419 coins. Despite a substantial trading volume exceeding $396 million in the past 24 hours, the asset’s value has continued its downward trajectory, now hovering around $33.52, which represents a slight decrease of 0.22% from the previous day.</p>
<h2 style="text-align: justify" id="indicators-predict-continued-downtrend">Indicators Predict Continued Downtrend</h2>
<p style="text-align: justify">The broader cryptocurrency market’s bearish trend has influenced AVAX’s performance, pushing its price below the 100-day Simple Moving Average—a potential indicator of further declines. Technical analysis using the 4-hour MACD shows the MACD line crossing below the signal line, reinforcing the bearish outlook.</p>
<h2 style="text-align: justify" id="potential-support-and-resistance-levels">Potential Support and Resistance Levels</h2>
<p style="text-align: justify">AVAX has established new resistance levels at $39.94 and $36.15, with a support level at $30.34. If the price breaks this support level, it may fall even lower, setting a new low. Conversely, a rebound from this support could lead to a rally towards and potentially above the $36.15 resistance level.</p>
<h2 style="text-align: justify" id="practical-insights-for-avax-traders">Practical Insights for AVAX Traders</h2>
<ul style="text-align: justify">
 <li>Monitor the 100-day SMA and MACD indicators for signs of further price declines.</li>
 <li>Keep an eye on the $30.34 support level; a break below could indicate a significant drop.</li>
 <li>Consider the potential for a rebound if AVAX remains above the key support level.</li>
</ul>
<p style="text-align: justify">In summary, while AVAX faces downward pressures, key technical levels could provide traders with signals on the cryptocurrency’s short-term movements. Observing these indicators and levels may offer opportunities either for risk management or for capitalizing on potential price reversals.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/avax-price-decline-continues" rel="noopener noreferrer nofollow">AVAX Price Decline Continues</a></h5>

AVAX Price Decline Continues

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