Is it the end of AVAX's rally? After three days of gains, it is down by 1.32% today

AVAX is grinding lower from $15.1 to $14.9, shedding $0.2 (1.32%) today.

Chart analysis indicates Avalanche could begin to recover as it approaches significant support, now 7 cents away from $14.97. Dipping below could be an indication that further losses are ahead. Trend-following investors would be interested to note that Avalanche made an initial break below its 5 day Simple Moving Average at $14.98, a possible indication of a forthcoming negative trend. According to asset volatility analysis, Bollinger Bands® shows an indication of recovery: the lower band is at $14.15, a low enough level to, generally, suggest that AVAX is trading below its fair value.

All in all, the technical analysis suggests AVAX has no clear-cut direction.

In the meantime, negative performances are also seen in other markets, Ripple is down $0.007 from the beginning of the session and now trades around $0.421. UNICORN Token USD is trading around $6.43 (down $0.197).

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

11 months ago AVAX reached a significant high of $34.87 but has consequently lost 56.68% since then. Avalanche is currently trading with a market cap of 4.96 billion with an average daily volume of 149.13 million.