Avalanche Price Fall Pass $15 Support, Target $8.62 Low
Avalanche price don drop from di November high wey be $36 come dey trade below im main support for $15. After e fall under di 21- and 50-day moving averages, AVAX come reach low close to $13. Weekly charts dey show say e don oversold, fit make buyers wan enter. For di 4-hour chart, downward-sloping SMAs dey show say di bearish momentum still strong, and rallies dey stop for di 21-day average. If e break well below $12.50, e fit make Avalanche price fall go im recent low of $8.62, but if e hold above $15, e fit trigger short-term rebound. Traders suppose dey watch di support for $15 and $12.50, resistance for $20 and $30, plus trading volume to see if trend go change.
Bearish
Persistent decline below key support levels and moving averages don show say strong bearish momentum dey for Avalanche price. For short term, if e no fit hold $15 and $12.50, e fit still dey put pressure for AVAX down, wey fit make more people dey sell. Even though oversold condition fit make some buyers opportunistic come, any rebound fit get limit because resistance dey for 21-day SMA and $20 and $30 levels, wey dey limit upside. For long term, if these support levels dey break continue, e fit mean say downtrend go still continue, wey go make market dey cautious and get bearish outlook for AVAX.