Bitcoin

Avalanche

Coin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/avax-coin-faces-challenges-as-price-drops-below-40/" data-wpel-link="internal">AVAX Coin Faces Challenges as Price Drops Below $40</a><br></p>
<p style="text-align: justify">The native coin of <strong>Avalanche</strong>, one of the largest smart contract platforms by <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market</a> value, is experiencing tough times. The price has anchored below $40 and, influenced by BTC’s negativity, is now testing the $31 region. How long will this continue? What’s the next step?</p> 
<h2 style="text-align: justify" id="avalanche-avax">Avalanche (AVAX)</h2> 
<p style="text-align: justify">BTC has fallen over 20% from its all-time high, and AVAX has also dropped to the $30 region. The four-hour chart below shows key support and resistance levels for the popular <a href="https://en.coin-turk.com/crypto-market-aims-for-2-1-trillion-as-bitcoin-and-altcoins-surge/" data-wpel-link="internal">altcoin</a>. If we see wicks below $30, this could trigger significant liquidations on the futures side, accelerating sales.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="wp-image-351433 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/AVAX-Coin-grafik-1.png" alt="" width="1229" height="659"></p> 
<p style="text-align: justify">Currently finding buyers at $31.9, the <strong>AVAX Coin price</strong> is above the main support level of $30.74. A rapid decline is likely to be triggered by losing this support. In the short-term outlook, the $33.26 and $34.06 levels will act as resistance. $39.78 serves as AVAX’s EMA200 level and trend resistance.</p> 
<p style="text-align: justify">The Ichimoku Cloud is at key resistance, and the price needs to rise above it for a potential reversal. There is a discouraging detail. The holding periods of AVAX Coin <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investors</a> have returned to late 2022 levels. The decreasing holding period indicates that more investors are focusing on short-term goals. The selling trend is confirmed here as well.</p> 
<h2 style="text-align: justify" id="will-avax-price-increase">Will AVAX Price Increase?</h2> 
<p style="text-align: justify">Many metrics show that <strong>AVAX Coin</strong> investors are reducing their risks and distancing themselves from the market. Fewer short-term investors can reduce immediate price volatility but also cause drops to the levels we see near $30 today. At the same time, current lack of appetite and short-term investor shortage make it easier for large sellers to push the price down.</p> 
<p style="text-align: justify">The upcoming US inflation data, expected in a few hours, could increase volatility for Bitcoin and the rest of the <strong>crypto</strong> <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">markets</a>. If the feared scenario occurs, we could see a new chaos period with extreme sales down to $19. AVAX buyers are likely to attempt to hold the price in the $25-27 range. A drop below $24 could accelerate the decline by triggering stops.</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/avax-coin-faces-challenges-as-price-drops-below-40/" data-wpel-link="internal">AVAX Coin Faces Challenges as Price Drops Below $40</a></h5>

AVAX Coin Faces Challenges as Price Drops Below $40

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