Selling pressure is increasing in Avalanche (AVAX): A collapse may occur!

Avalanche (AVAX), which has been exposed to selling pressure after failing to exceed $ 26, may experience a new collapse.

AVAX, which could not overcome the $ 26 resistance with Bitcoin's decline, retreated to a critical level. The major coin, which also fell short in the rise processes, continues to upset its investors. Avalanche, which is currently in the decision-making phase, seems to be drawing its direction according to the price movements in BTC.

AVAX, which changed hands at $ 23.07 as of the writing of the news, 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 scenario, a reaction can be expected first from the $ 21.84 and $ 20.50 levels.

If these levels are insufficient, a decline of up to $ 17.27 - $ 15.97 and $ 14.81 may occur, respectively. Losing the recent low of $17.27 will be a sign of a new collapse. In order to expect a rise in the medium/long term, $17.27 must be protected.

If it stays above $21.84, BTC rises above $60,000, or $BTC dominance declines, a recovery can be expected in AVAX. In such a scenario, increases to $24.80 - $27.31 - $30.05 - $31.70 - $33 and $35.08 can be followed, respectively.

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