Avalanche: Why AVAX traders must remain on the lookout for this

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).

Timeline of Avalanche

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

Avalanche price analysis suggests sideways movement below $20.00 The closest support level lies at $18.04 AVAX faces resistance at the $20.00 mark and further above at $22.32. The Avalanche price analysis shows that AVAX has finally found support at the $18.00 mark, which has caused significant bearish pressure to subside.

Nansen, the blockchain data analytics platform, has announced the launch of a new dashboard for Avalanche which will “provide extensive NFT market overviews and related data.” Year to date, the NFT-related activity on AVAX has “become a dominant source of activity on its c-chain.

Avalanche price analysis shows AVAX prices continue to trend lower on the charts, as the market bears remain in control. Prices have sought support at around $20.0, but this level has so far not been able to hold.