After six days of going down, Avalanche is stable today, trading around $14.4

Without a clear-cut direction, Avalanche is trading around $14.4 and ranging between $14.23 and $14.53.

Visual analysis of AVAX's chart shows that Avalanche is approaching key support, around 58 cents away from $13.82. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls. Trend-focused traders would be interested to note that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Momentum evaluation shows that the Relative Strength Index indicates Avalanche is in an oversold condition, which could precipitate a reversal and set up a new bullish phase. According to asset volatility analysis, Avalanche's upper Bollinger Band® is at $21.46 and the lower is $13.38.

Overall, the technical outlook suggests Avalanche is likely to remain muted for the immediate future, with no clear-cut direction.

At the same time, mixed performances are seen elsewhere as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Bitcoin is down to $19,922, losing $433.96, after closing at $20,356 in the preceding trading session. After ending today's session at $76.78, Litecoin lost $1.89 and is trading around $74.88.

Over the past 11 months, AVAX has retreated 85.57% from a noteworthy peak of $99.74. AVAX is currently trading with a market cap of 4.69 billion with an average daily volume of 230.93 million.