End of rally? After three days of gains, Avalanche is down $0.232 today

AVAX is grinding lower from $17.23 to $17, shedding $0.232 (1.44%) today.

Trend and momentum analysis indicates that Avalanche made an initial break below its 10 day Simple Moving Average at $17.21, a possible indication of a forthcoming negative trend. Analysis based on the asset volatility indicates that AVAX's lower Bollinger Band® is at $15.2, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Chart analysis suggests Avalanche could begin to recover as it approaches significant support, now 42 cents away from $16.57. Dipping below could be an indication that further losses are ahead.

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, Bitcoin Cash is down to $117.84, losing $2.37, after closing at $120.21 in the preceding trading session. UNICORN Token USD goes down 2.98% to trade around $6.43.

Positive performances can be seen by looking at other markets as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.

Since its 52-week high of $67.09, Avalanche has lost 74.39% over the last twelve months. AVAX is currently trading with a market cap of 5.60 billion with an average daily volume of 215.51 million.