Altcoin News- AVAX has fallen down 12.1% in the last two weeks.
- RSI is below 50, indicating the overbought characteristics of investors.
AVAX, the native Avalanche blockchain token, continues the second-week red candle. The token has fallen down 12.1% in the last two weeks. In the past month, the lowest price was witnessed at $16.97 on the 13th of February. The next closest halt to the limit was on 1st march, at $17.08.
The token showed bullish movement by the mid of the previous week by crossing the $20 range. It registered a $21.38 price on 22nd February. At current, the resistance level is tested at $21.93 and the support is relatively at $16.36. The marginal difference between the present price and support is very minimal for the token to break. If that happens so, the next support level for the test will be $10.55.
AVAX token’s RSI is below the level of 50, indicating overbought characteristics of investors, in a way signaling for sale. Though the RVI is 40.30 and depicts a low volatile attribute, the surge in the price is pretty out of the sight.
Avalanche blockchain and Ava Labs as an enterprise are exhibiting and implementing various new development and upgradation. But the influence of those measures in their market domination can only be witnessed over the passage of time.
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Source: https://thenewscrypto.com/avalanche-avax-price-declines-will-the-bottom-go-below-15/