Avalanche (AVAX) Tries Comeback, Unfazed By $2-B Market Cap Loss In Last 2 Weeks

News Aug 27, 2022 610

Avalanche (AVAX) has pushed forward with its climb, despite market impediments and negative conditions throughout recent weeks.

Avalanche (AVAX) Tries Comeback, Unfazed By $2-B Market Cap Loss In Last 2 Weeks

Analysis of the Avalanche price indicates a bearish signal. right now AVAX/USD trading at $20.57

The live Avalanche price today is $20.65 with a 24-hour trading volume of $578,789,167. Avalanche is down 8.53% in the last 24 hours. The current CoinMarketCap ranking is #15, with a live market cap of $5,887,209,239 USD. It has a circulating supply of 285,037,194 AVAX coins and a max. supply of 720,000,000 AVAX coins.

Have a look at AVAX's price statistics AVAX's price change in 24h is $1.92 of 8.46%, 24h low is $20.08 and 24h high is $23.17 with a 0.61% Market Dominance Fully Diluted Market Cap of AVAX is $14,871,008,914.64, 7d low as $20.08 and 7d which is $23.65 and 30d low as $20.08 and 30d high is $30.50 The Avalanche ROI is 4030.84% and Circulating Supply is 285,037,194 AVAX

Because of the unfavorable market situation, its market cap dropped by nearly $2 billion throughout recent weeks, yet it is currently attempting to recuperate.

Right now Avalanche's market cap is at $5.8 billion with the market still trying to recover from the fall last week

AVAX has been circling around over its support zone. Its rising reach, during which it has been swaying throughout the previous nine weeks, has a similar support line.

The $23.63 level is currently going about as opposition for the AVAX/USD pair, and it should be broken for the pair to go higher.

Yet, almost certainly, the bears will assume control over the market and drive the value down to the $22.52 support level.

The AVAX/USD pair has been declining since last week and is right now trading at $20.58.

Notwithstanding the market's vulnerabilities, AVAX's market opinion is right now moving for the bull's side.

This was clarified by the weighted opinion pointer on August 21 after it had recently declined during the negative exhibition the earlier week.

The market is losing speed and is expected to move lower rather than later, and the declining volume is one more indication of this.

The bulls might drive the price up to retest the $23.63 resistance level if they can hold onto control of the market.

Another sign that the market is bearish is that the Relative Strength Index (RSI) indicator is beneath the 50 levels. $21.15 and $22.06 are the 50-day and 200-day moving averages, separately.