Avalanche Grinds To A Halt As AVAX Breaks 2-Month Uptrend

Avalanche (AVAX) price breaches an uptrend lingering in the ascending parallel channel for two months now. AVAX price dips below the ascending channel, breaching an uptrend for two months Avalanche price slides further down to $25 Price tagged in the buy zone but lacks impetus to maintain the ascending parallel channel Even though AVAX was able to break above $30, the coin wasn’t able to fill in the cracks to $40. At first, support seen at $28 controlled the bears’ grasp on the price but AVAX price retraced at $26.22 and is in danger of plunging further down to $25 and $21. Related Reading: Dogecoin Jumps 15% In 24 Hours As DOGE Overcomes Critical Level Avalanche Price Slides Down To $25 According to CoinMarketCap, AVAX price has nosedived by 5.53% or trading at $25.89 as of this writing. AVAX faced hurdles as it muscles out with resistance spotted at $30. Bulls tried to sustain the upswing but the intense buying and selling pressure worked against AVAX. Inevitably so, the Parabolic SAR that hovers above the price heeled the scales towards the bears. With the support at $28 breached, the focus will now be reverted to the levels $25 and $21 which shores up the 100-day SMA. Now, trading below this level, the 50-day SMA could impel the AVAX price heading to buyer congestion seen at $21. As seen on the daily chart, the Stochastic oscillator beefs up traction to its downbeat standpoint as AVAX markedly dives under the midline. The ...