There is no trace of Avalanche (AVAX), which had wreaked havoc for a while, and now the popular coin, which fell to $8.60, has reached its lowest level in the last 2 years.
AVAX, which blew the crypto industry on its journey from $ 10 to $ 150, has been silent for a very long time. There has been no trace of the major coin, which stood out with both its ecosystem and investor base in the past, for a while. The popular coin, which last tested $103 in April 2022, has been losing value since then.
Although downward movements are normal in these market conditions, the price structure in AVAX is completely weak. Could AVAX, which has shown much less performance than other altcoins in BTC’s upward movements, be setting off a red alarm?
A drop to $7.50 wouldn’t be surprising!
AVAX, which dropped from $ 15.96 to $ 8.61 in the last 2 months, recorded a total decrease of 45.77 percent. If the popular coin, which gives fear signals in its weekly chart structure, cannot rise above $ 9.35 again, the selling pressure may intensify. In order for AVAX to recover in this process, not only BTC but also its ecosystem may need to have a good impact.
If AVAX, which is currently traded at $ 8.84, cannot go above the red line, it may relax to $ 7.49 – 7.03 – 4.71 and $ 2.81 respectively. In particular, $7.03 plays a critical role. Staying above $9.35 could add strength to AVAX. In such a scenario, it may rise to 10.78 – 12.18 – 13.83 and 15.96 dollars respectively.
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