AVAX🔥
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Considering recent price movements, AVAX shows an average performance compared to the crypto market. For instance, the cryptocurrency experienced a 40% price correction between July 22 and August 6, worrying investors.
Additionally, it continues to stay below the 20-day EMA (blue). Generally, if an asset’s price continues to trade above the EMA, the trend is upward.
Therefore, AVAX’s current position below the EMA indicates a downward movement. If this trend continues and bulls remain weak, AVAX could fall to $19.56. More importantly, a failed price movement here could see AVAX drop to $17.03.
A reversal of the trend to an upward direction could push AVAX’s price to $23.07. If this trend continues, the EMA level at $24.25 could be surpassed, and the price could rise to $26.64.
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