AVAX Price Level Shows a Bearish Momentum After the Market Crash
- Avalanche price analysis shows a bearish trend after a long period of stability.
- The AVAX/USD is standing at $16.98, that’s a drop of 3.47% in the last 24 hours.
- If bearish persists, it could move Avax’s price lower around the support level of $16.43.
The latest Avalanche price analysis reveals that the AVAX price is facing a significant amount of bearish pressure in today’s market. The bearish pressure is pushing Avax’s price below the $17.00 level after strong selling pressure from the market. The AVAX/USD pair is currently hovering around the $16.98 level, which is a drop of 3.47% in the last 24 hours.
This bearish pressure may cause the price to break through the support level of $16.43, increasing its downside potential even further in the coming days ahead, and if the bearish momentum persists, the AVAX price could test even lower levels shortly. The bulls need to act fast to push the AVAX price above the resistance level of $17.58 in order to restore the bullish sentiment in the market and prevent further downside price action.
The daily chart for the AVAX price shows that it has been in a sideways tr…
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