Avalanche AVAX Rally UHNuVf

Avalanche Price Analysis: Can 200 DMA Save AVAX Price From Bloodbath?

The AVAX price second rejection from the $95 mark implies the traders hold a sell-on-rally stance. The AVAX price trading at the $77.5 mark registered a 16.5% fall in the last four days. Moreover, the fallout from the $78 suggests the completion of the double bottom pattern, supporting further selling.
Key technical points: 

The recent sell-off in the crypto market has engulfed the 20 and 50 DMA
The intraday trading volume in the AVAX is $1.2 Billion, indicating a 33.4% hike

Source- Tradingview
The AVAX price turned down from the $95 mark on February 17th, indicating the sellers are aggressively defending this resistance. Moreover, the resulting downfall displays a double bottom pattern in the daily time frame chart.
The technical chart displays a confluence of major technical levels at $78 along with a 0.5 Fibonacci retracement level and upcoming support trendline. On February 20th, the sellers gave a decisive breakdown from this crucial support, triggering a short-entry opportun

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We współpracy z: https://coingape.com/markets/avalanche-price-analysis-200-dma-save-avax-price-bloodbath/

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