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May 11, 2023
Avalanche falls to $15.37, following mixed behavior today as it ranges between $15.35 and $15.53.
Avalanche made an initial break below its 3 day Simple Moving Average at $15.34, a possible indication of a forthcoming negative trend. On the other hand, note that Bollinger Bands® shows an indication of recovery: the lower band is at $15.13, a low enough level to, generally, suggest that Avalanche is trading below its fair value. Avalanche could begin to recover as it approaches significant support, now 26 cents away from $15.11. 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 Avalanche.
In the meantime, negative performances are also seen in other markets, UNICORN Token USD is down $0.197 from the beginning of the session and now trades around $6.43. After ending today's session at $1.66, NEAR Protocol lost $0.049 and is trading around $1.61.
Other assets are showing positive performances as FTX Token jumps 9.54% to trade around $1.36.
Approximately 11 months ago, AVAX reached a significant high of $36.52 but has struggled to hold onto its gains and declined 57.46% since then. AVAX has a market cap of 5 billion with an average daily volume of 170.96 million.
