AVAX, in the sixteenth place behind the leading cryptocurrency Bitcoin, continues to pull back with the sales in Bitcoin after retesting the 21.62 resistance level. Having diverged positively from Bitcoin for a few days, AVAX turned downwards while preparing to break the 200-day average when it failed to pass the $21.62 resistance. It is a matter of curiosity whether the EMA21 support level will work in Avalanche, which is stuck between the EMA5 and EMA21 averages. Starting at $20.31 yesterday, AVAX closed the day at $19.72, with a 3% decline after seeing the highest level of $20.73.
AVAX, which started today at $19.72, is trading at $19.44, with a decrease of 1.37% at the time of writing.
AVAX Chart Analysis
Things have turned around for Avalanche, which retested the 21.62 resistance level three days ago and broke above the EMA200 level of $20.23. Based on the selling pressure in Bitcoin for a few days, AVAX seems to have lost power with the incoming sales. In Avalanche, which goes below the $19.86 level, which is the EMA5 level, daily, the EMA5 level of 19.86, and the EMA200 $20.23 level are the resistance points. In case the possible pullback continues, the EMA21 at $19.41 and the horizontal support point at $18.73 are our closest support levels.
This article does not contain investment advise or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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