Avalanche price analysis: AVAX/USD depreciates to the $16.00 mark after a bearish run

Avalanche price analysis is currently in a bearish trend as the AVAX/USD pair has depreciated to the $16.00 mark. The market had attempted to rally yesterday but was unable to sustain the bullish momentum and pulled back below the $16.75 resistance level.

Timeline of Avalanche

A closely followed crypto analyst says Solana (SOL) and Binance Coin (BNB) are the only digital assets he wants to hold amid market volatility. Pseudonymous trader Altcoin Sherpa tells his 177,500 Twitter followers that Solana will likely recover and that he sees good entry points for SOL between $15 and $25. “SOL: [in my opinion] The post Here's What's Next for Solana (SOL), Binance Coin (BNB) and Two Ethereum Rivals, According to Top Crypto Trader appeared first on The Daily Hodl.

Ethereum competitor Avalanche said on Friday that it has little exposure to beleaguered hedge fund Three Arrows Capital, as the latter faces a potential insolvency.  The blockchain said in a tweet that Three Arrows never had any control over Avalanche's treasury funds.

Ever since its ATH in November, Avalanche (AVAX) sellers have been on the front foot by keeping the buying rallies under their check. The liquidations from the recent symmetrical triangle pulled the alt below its seven-month trendline resistance (previous support).

Avalanche price analysis for today illustrates the bulls are gaining some control of the market as prices step into an ascending parallel channel. As seen on the 4-hour chart, AVAX prices have surged by $4.75 percent in the last 24 hours.

AVAX was among the cryptocurrencies that registered a significant upside after its recent bottom. A healthy sign that it experienced some accumulation after its price cascaded to recent lows.

Fears of inflation and economic uncertainty continue to drive down the price of bitcoin, altcoins, and the volume of the cryptocurrency market. Bitcoin's price plummeted to $21,000 on Wednesday while the altcoins too followed BTCs suit and crashed. Although, at the time of writing, the majority of the top 10 coins had made minor gains …

A popular analyst is digging into the charts to set price targets for four crypto assets as the markets tumble. The pseudonymous trader known as Altcoin Sherpa tells his 177,300 Twitter followers that he's looking at leading smart contract platform Ethereum with one-week candles, and that the $500 to $800 range a possibility if ETH The post Here's How Low Ethereum, Solana, Avalanche and One Additional ETH Rival Will Go, According to Crypto Analyst appeared first on The Daily Hodl.

Avalanche price analysis shows that the bear market is still in control as prices have fallen below the $15.00 mark. This is a significant decline, and it seems that the market is still not ready to turn around.

Avalanche price analysis shows a bearish market sentiment established in the last few days. The market is currently in a broad-based selloff as investors flock to safe-haven assets amid concerns over the outlook for the global economy.

Although the development is supposed to be a positive trigger for Avalanche [AVAX], it has been subdued by the broader market's bearish cues that have already wiped out more than $137 billion from the crypto market. Avalanche loses further Avalanche, even though wasn't the best performing asset in the market, was still doing better than