AVAX’s RSI was oversold, at press time, which was somewhat of a bullish signal. However, the major market indicators suggested that selling pressure was imminent. Avalanche [AVAX] made quite a name for itself on 30 December when it announced that Dua.com, a SocialFi, had chosen Avalanche to build its “Fi”. Dua.com is a global social […]
’s price had registered a decline of more than 7% in the last seven days and was trading at $10.69 with a market capitalization of over $3.3 billion.AVAX’s Relative Strength Index , at press time, was in an oversold position, which drastically increases the chances of a trend reversal in the first week of this year.
Furthermore, a few of the metrics were also supportive of the aforementioned possibility. For instance,Source: Santiment Its NFT ecosystem also witnessed growth in the past few days, as its total number of trade counts and total NFT trade volume in USD went up. Nonetheless, AVAX’s development activity took a different path and declined. Moreover, its price surge was accompanied by a rise in volume.
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Going long on AVAX? Here is the “but” to this possible trend reversalDisclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion A trend reversal could be possible if support at $10.86 holds AVAX bulls could target immediate resistance at $11.39 Avalanche [AVAX] fell over 25% from a high of $14.14 on 13 December to a […]
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