What is happening in Avalanche (AVAX)?  11 August 2023

What is happening in Avalanche (AVAX)? 11 August 2023

Avalanche (which has been depreciating and pricing for a long time)Avax), unable to hold on to the resistance zone, began to loosen.

It is in a falling trend structure for almost a month now. AvaxAlthough it made a move towards $13.68, it could not withstand the selling pressure and settled at $12.45. The popular coin, which was also rejected from the minor resistance zone, continues to seek direction. What’s the latest on the AVAX charts? What can fluctuate in prices?

Avalanche (AVAX) Technical Analysis

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AVAX, whose value has declined from $15.96, is currently trading at $12.45. If $12.65 holds as support, the major coin, which may not sustain here, could drop to $11.81 and $11.16 with a breakdown of $12.11. Specifically, the price action at $12.11 will be decisive.

Persistence at $12.65, BTC above $30,000, or the positive mood in the Avalanche ecosystem could drive AVAX price higher. In this scenario, the selling zones are $13.68 – $14.16 – $15.11 and $15.96, respectively. With a break of $15.96, the short- to medium-term structure in AVAX will consolidate.

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