Avalanche price analysis: AVAX spikes to $11.85, heavy rejection seen since

Avalanche price analysis is showing that the price is covering downward movement once again. The bulls have failed to survive the bearish pressure and the price has declined for today as well.

Timeline of Avalanche

 Avalanche's TVL reached 270,611,568 AVAX  Metrics also favored an optimistic outlook for AVAX After weeks of decline, Avalanche's [AVAX] total value locked (TVL) finally registered an uptick. This could be considered as an optimistic update for the blockchain.

Avalanche price analysis suggests a bearish trend for today and supports sellers as the price has undergone a considerable decrease since morning. Although the bulls were in the winning position earlier, they were not able to sustain their momentum and AVAX prices plummeted to the support level of $12.60.

The most recent Avalanche price analysis shows bearish results as the price underwent losses again. The price has decreased up to $12.71, continuing the downtrend that started on the 18th of November.

The coin's price has risen today, according to Avalanche price analysis, because the bulls prevented the market from falling below the $12.78 level. The price has increased as a result of the bullish side's steadfast efforts since the start of the trading session and is currently trading at the $13.13 level.

Avalanche has been highlighting its preparedness for more demand as self-custody gains popularity AVAX's short-term demand still showing signs of low stimulation The DeFi space is heating up now that recent events have exposed cracks in the crypto-market's centralized finance segment.

Avalanche's TVL continued to decrease  The on-chain metrics looked bullish, except for development activity  Avalanche [AVAX] has been witnessing a sharp decline in its Total Value Locked (TVL) over the past few weeks. According to a tweet from AVAX Daily, a popular Twitter handle that posts updates about the Avalanche ecosystem, AVAX registered a 27.

Avalanche (AVAX) peaked at $20.31 on November 6 as it gave its best to recover from the bearish trend that engulfed the broader crypto market towards the tail-end of October and the opening days the current month. However, on November 12, the cryptocurrency experienced a severe price correction that pulled it all the way down to $12.51.

Avalanche price analysis suggests an upwards movement to $15.00 The closest support level lies at $13.50 AVAX faces resistance at the $14.00 mark The Avalanche price analysis shows that the price action finds resistance at the $14.00 mark and has fallen back to the $13.

Avalanche price analysis shows sideways price movement for the day as the price is recovering slowly. It appears that after dominating the market for the past week, the bulls have now overtaken the bears.

Avalanche gameFi projects are still growing at a fast pace despite market disruptions AVAX sees a return of bullish momentum albeit in low volumes Avalanche has managed to keep itself in the news ever since it came into the blockchain fold.