AVAX faces key resistance at $43.81, challenging a potential bullish reversal.
A breakdown below $42.00 could push AVAX towards the next support at $40.00.
Decreased trading volume signals cautious sentiment, limiting potential price recovery.
Avalanche (AVAX) has been experiencing a downward trend in its price movement, currently at $42.15. Over the last 24 hours, the price has decreased by 3.85%, signaling a shift in market sentiment. With its resistance levels being tested and a significant drop in trading volume, many are wondering if AVAX can recover to the $50 mark or if further declines are in store.
Key Resistance and Support Levels to Watch
Currently, AVAX is facing a key resistance level of around $43.81. Despite attempts to break this threshold, the price faced substantial selling pressure, which caused the downtrend to continue.
This resistance point remains crucial for any potential bullish reversal. Therefore, for AVAX to show a more sustained upward movement, it must break through this level, paving the way for higher prices.
Read also : Avalanche vs. TRON: Market Cap Battle, AVAX Wins
On the flip side, the support level around $42…
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