AVAX is down by $0.593 (-4%); currently trading around $14.25

Trading lower, AVAX is currently down $0.593 as it ranges between $14.21 and $15.17 so far today.

Despite being in the red so far in the current trading session, Avalanche peaked above its 5 day Simple Moving Average around $15.24 — typically an early indicator of a new bullish trend beginning to emerge. Bollinger Bands® shows an indication of recovery: the lower band is at $13.21, a low enough level to, generally, suggest that AVAX is trading below its fair value. Avalanche could begin to recover as it approaches significant support, now 13 cents away from $14.13. Dipping below could be an indication that further losses are ahead.

Overall, looking at the technical analysis landscape, although technical indicators are mixed and pointing in different directions, it seems Avalanche is set to appreciate despite today's setback.

In the meantime, negative performances are also seen in other markets, EOS closed at $0.973 (down 6.89%). Litecoin dips 5.88% to trade around $67.42.

Other assets are showing positive performances as FTX Token is up 9.54%.

Avalanche has fallen back around 85.12% from the significant high of $99.74 set 11 months ago. Avalanche has a market cap of 4.64 billion with an average daily volume of 229.59 million.