AVAX Technical Analysis: Breaking Supports Down One By One

AVAX, the sixteenth place behind the leading cryptocurrency, continues to lose strength when the EMA200 cannot break the resistance. Having tried the $21.62 level twice in the past week and failed, AVAX needs help to meet the intense selling pressure from this region. In AVAX, which started to break the averages down one by one, eyes are on whether EMA55 and EMA100 will work as support. If we evaluate the past week, AVAX, which consolidated between $21.62 and $17.44, finished the week with a 6.97% decline. AVAX, which started the day at the $ 17.95 level yesterday, closed at 18.43, with an increase of 2.73%.

Avax, which started today at $18.44, is trading at $18.11 with a decrease of 1.74% at the time of writing.

AVAX Chart Analysis

Having difficulty meeting its decline, AVAX continues to break the averages one by one. AVAX, which went down to the EMA55 support with the acceleration of the decline starting from the 21.62 resistance, has continued to close around this average for the last three days. In AVAX, where the selling pressure continues, the EMA55 $17.90 and EMA100 $17.22 levels are our first support points. In possible up purchases, $18.57, the EMA5, and $18.73, our horizontal resistance, are our first resistance points to follow.

AVAX Technical Analysis: Breaking Supports Down One By One

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when deciding.

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Armaan Khatri

I'm Armaan Khatri, a financial writer, editor, and market analyst. A former VP and market risk advisor worken in India at Citizens Financial Group. Have more than 15 years of financial services experience that also includes personal finance, personal banking, IRAs, and retirement services.

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