As long as it fails to overcome the crucial resistance level of $30 versus Tether (USDT), the price of Avalanche (AVAX) struggles to establish its positive trend.
The crypto market capitalization performed as well as Bitcoin (BTC) rates as well as other digital assets in the past weeks. Avalanche’s (AVAX) price is still resisting joining the environmental movement as it moves in the direction of its downturn.
The price has battled to move over $30 despite exhibiting some excellent price action in the last several weeks as a result of so many investors and traders expressing interest in the various projects being developed on the Avalanche network. However, this could be a massive strength for the price to move upward.
AVAX’s price is down to a low of $15 before rising to a peak of $30, where it encountered resistance and was unable to surpass $50 because of this rejection. Ever since the price has continued to go downward.
The price of Avalanche (AVAX) keeps trading over crucial support that was created over the last weeks when the price fell from around $45 to a low of $15 on the daily period.
Avalanche (AVAX) price kept moving in a band as it continued to fall, forming a falling triangle that appears to be about to break out higher.
If the price of Avalanche (AVAX) falls to the downside of the falling triangle, it has to bounce away from important support to prevent falling to a low of $10.