Altcoins News
By Julie Binoche
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Key Resistance Levels Weighing on Avalanche’s Recovery. Over the past several weeks, Avalanche has faced significant resistance, particularly in the $20…
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Downtrend Remains Intact. Avalanche’s price has been on a steady decline since late February, and the market structure…
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Bears Eye $14.5 Support. Based on Fibonacci retracement and extension levels, the $14.
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Conclusion: Bearish Sentiment Prevails for Avalanche. At this stage, it’s clear that Avalanche is facing a challenging market environment.
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Avalanche (AVAX) has been struggling to gain traction in the market lately, with a significant bearish outlook looming.
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At present, Avalanche’s price action is under the influence of several key resistance areas. The $20 to $21.7 range is particularly important, as it marks a bearish order block.
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Avalanche’s price has been on a steady decline since late February, and the market structure continues to suggest that the downtrend is far from over.
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A look at the Fixed Range Volume Profile tool, which helps identify key price levels with high trading volume, reveals a significant high-volume node between $20.5 and $22.1.
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The overall market structure is clearly bearish, with the most recent lower high established at $24.95.
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Based on Fibonacci retracement and extension levels, the $14.5 level stands out as a key target for bears. The 23.
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Traders looking to capitalize on the current market conditions might want to consider shorting any short-term price bounce toward the $21 area. The $14.
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At this stage, it’s clear that Avalanche is facing a challenging market environment. Despite some minor price bounces, the general trend remains bearish, with the $20 range…
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