Testing $10 for the second time since 2021, Avalanche (AVAX) could pave the way for a drop to $2 if it fails in its next attempt.
Popular coin Avalanche (AVAX), which touched $10 twice in July 2021, has recently reached this level again. The major coin, which managed to find a buyer from a critical support point, reached $ 16.05. However, the successive FUD news in recent days has seriously shaken AVAX and especially BTC. AVAX, which once again threw an injection for $ 10, received a weak reaction this time. This strengthens the possibilities for a drop to $2.80.
Avalanche (AVAX) chart analysis
The weekly chart provides us with important data so that we can evaluate the long-term price structure of AVAX. Lastly, AVAX, which pinned 10 dollars last month and in July 2021, is currently pricing very close to this value. With the break of $10, AVAX’s next support points can be followed as $9.39 – $6.89 and $2.81.
Although there is a minor difference between $6.89 and $2.81, the severity of the decline may become very large due to gaps in the chart structure. With $10 working as support and breaking above $12.18, AVAX’s new targets will be $12.83 and $16.05.
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