AVAX hits $14.25, its lowest rate in 2 months

AVAX dropped $0.281 to $14.25, reaching its lowest point in 2 months.

Avalanche could begin to recover as it approaches significant support, now 12 cents away from $14.22. Dipping below could be an indication that further losses are ahead. Bollinger Bands® shows an indication of recovery: the lower band is at $13.59, a low enough level to, generally, suggest that Avalanche is trading below its fair value.

Overall, looking at the technical analysis landscape, it seems AVAX —which is currently on a downtrend— might reverse course and start pointing upward in the short term.

In the meantime, negative performances are also seen in other markets, EOS closed at $0.851 (down 3%).

Positive performances can be seen by looking at other markets as FTX Token is up 9.54% to $1.36. TRON gained 3.73% and is currently trading at $0.075.

Avalanche is now trading 28.97% below its 3-month high of $31.87. Avalanche has a market cap of 4.79 billion with an average daily volume of 129.23 million.