After three days of going up, AVAX is down $0.136 today

Avalanche weakened earlier in the day, before moving away from its $17.71 low and recovering back to $17.86.

Avalanche made an initial break below its 3 day Simple Moving Average at $17.86, a possible indication of a forthcoming negative trend. AVAX's upper Bollinger Band® is at $18.2 which indicates a further downward move may follow. On the other hand, note that AVAX could begin to recover as it approaches significant support, now 23 cents away from $17.63. Dipping below could be an indication that further losses are ahead.

Overall, looking at the technical analysis landscape, it seems that although indicators are mixed and some are pointing in different directions further drawbacks may be next for AVAX.

In the meantime, negative performances are also seen in other markets, Cardano closed at $0.381 (down 2.72%). Dogecoin closed at $0.091 (down 1.65%).

Positive performances can be seen by looking at other markets as FTX Token is up 9.54%.

11 months ago Avalanche reached a significant high of $88.03 but has consequently lost 79.56% since then. Avalanche has a market cap of 5.83 billion with an average daily volume of 188.83 million.