AVAX sheds $0.894 to trade around $13.88

After a mostly steady day, Avalanche loses $0.894 late into the session, trading at $13.88.

Avalanche broke through the $14.64 support line and dropped 76 cents below it. Avalanche made an initial break below its 21 day Simple Moving Average at $14.56, a possible indication of a forthcoming negative trend. AVAX has just crossed the lower Bollinger Band® at $13.9, 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, Binance Coin closed at $276.67 (down 9.2%). After ending today's session at $0.072, Dogecoin lost $0.006 and is trading around $0.066. EOS drops 7.82% to trade around $0.84.

9 months ago Avalanche reached a significant high of $29.36 but has consequently lost 49.7% since then. AVAX is currently trading with a market cap of 4.78 billion with an average daily volume of 113.26 million.