Avalanche ended the previous session at $16.39; currently trading at $15.87

Avalanche drops $0.513 early on and steadies around the $15.87 level.

Avalanche broke through the $16.23 support line and dropped 35 cents below it. AVAX made an initial break below its 200 day Simple Moving Average at $16.12, a possible indication of a forthcoming negative trend. AVAX has just crossed the lower Bollinger Band® at $16.06, indicating further losses could be forthcoming.

In the short term, Avalanche is expected to maintain its recent downtrend and continue spiralling lower.

In the meantime, negative performances are also seen in other markets, Ripple is down to $0.436, losing $0.013, after closing at $0.449 in the preceding trading session. EOS is trading around $0.938 (down $0.028).

Other assets are showing positive performances as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.

AVAX is now trading 68.07% below the significant high of $51.31 it set around a year ago. Avalanche has a market cap of 5.25 billion with an average daily volume of 192.90 million.