đ°đ°Selling pressure is increasing in Avalanche (AVAX): A collapse may come!
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AVAX, which could not pass the $ 26 resistance with the depreciation of Bitcoin, fell to a critical level. This major cryptocurrency, which also fell short in the rising periods, continues to disappoint its investors. Avalanche, which is currently in uncertainty, seems to determine its direction depending on the price movements in BTC. Let's see which levels investors should watch.
AVAX, which was traded at $ 23.07 at the time of writing, may be shaken by the continuation of the decline in BTC, the increase in BTC dominance, or negative news from the Avalanche ecosystem. In such a case, a reaction can be expected primarily from the $ 21.84 and $ 20.50 levels. If these levels do not hold, a decline to $17.27, $15.97 and $14.81 may occur. The loss of the recently determined bottom level of $17.27 will be a sign of a new collapse. Maintaining the $17.27 level is critical to expecting an increase in the medium and long term.
If it remains above $21.84, if Bitcoin exceeds $60,000 or if BTC dominance decreases, a recovery may be seen in AVAX. In this scenario, an increase to $24.80, $27.31, $30.05, $31.70, $33 and $35.08 may occur, respectively.
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