[Avalanche prices drop as market volatility continues]

AVAX is the native token of the Avalanche blockchain and currently ranks 12th in the global cryptocurrency market cap rankings. The token’s total supply is 440,043,419, with trading volume exceeding $396,250,098 in the past 24 hours. AVAX’s price has been trending downward since its recent pullback at $36.15.

Currently, the overall cryptocurrency market is showing a bearish trend, with the price of AVAX falling below the 100-day simple moving average (SMA), and it is expected that the price may continue to fall in the coming days. Currently, AVAX’s price is trading around $33.52, down around 0.22% in the past 24 hours.

Technical indicator analysis:

1. 4-hour MACD: This indicator shows the MACD histogram below the zero line, with the MACD line and the signal line crossing below the zero line, signaling a continued downward trend.

2. 4-Hour RSI: The RSI shows a downtrend with the signal line falling from above 50% to below, showing an active seller’s market over buyers.

3. Alligator Indicator: The price of AVAX is trading below the Alligator line, indicating that the price may continue to fall.

Price support and resistance analysis:

AVAX formed two resistance levels at $39.94 and $36.15, as well as support at $30.34 during its previous decline.

Currently, AVAX is approaching this support level, and if it breaks above this level, the price may fall further and form new lows. Conversely, if the price fails to break above this support, a rebound towards the previous resistance at $36.15 is likely. A break above this resistance could lead to further gains towards the $39.94 resistance.

#鴉快訊 $AVAX @Avalanche_CN