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February 25, 2023
Avalanche drops from $18.39 to $18.12, losing $0.262 (1.42%) today.
Technical chart analysis shows Avalanche could begin to recover as it approaches significant support, now 4 cents away from $18.17. Dipping below could be an indication that further losses are ahead. Technical analysis trend indicators suggest that Avalanche made an initial break below its 50 day Simple Moving Average at $18.04, a possible indication of a forthcoming negative trend. Asset volatility analysis shows that Bollinger Bands® shows an indication of recovery: the lower band is at $16.86, a low enough level to, generally, suggest that Avalanche is trading below its fair value.
With market volatility ebbing, the current technical outlook indicates AVAX will remain range-bound for the immediate future.
In the meantime, negative performances are also seen in other markets, Tezos USD is down $0.047 from the beginning of the session and now trades around $1.19. UNICORN Token USD is trading around $6.43 (down $0.197).
Other assets are showing positive performances as FTX Token soars 9.54% to trade around $1.36.
AVAX is now trading 81.57% below the significant high of $99.74 it set around 10 months ago. Avalanche is currently trading with a market cap of 5.72 billion with an average daily volume of 219.41 million.
