The price of Avalanche (AVAX) slips at $30 against Tether (USDT) as Avalanche (AVAX) eyes key support to hold the price from selling off. AVAX showed great strength rallying to a high of $30 but was rejected as Bitcoin’s (BTC) price continued to go lower, affecting the price of AVAX from trending higher. (Data from Binance) Related Reading: Why Bitcoin Is Oversold As BTC Reclaims Territory North Of $20,000 Avalanche (AVAX) Price Analysis On The Weekly Chart According to the chart, the price of AVAX had a strong bullish bias at $30, but the price was rejected from that region, causing the price of AVAX to move downward. After hitting a weekly low of $14.5, AVAX rallied to a high of $30, with hopes of retesting $50. The price was rejected at $30 and has since remained bullish. The price of AVAX closed with a weekly bearish candle, and the price volume suggests that the new week will be even more bearish. If AVAX maintains its current structure, we could see a retest of the support at $14.5 or lower, depending on sell volume. Weekly resistance for the price of AVAX – $30. Weekly support for the price of AVAX – $14.5. Price Analysis Of AVAX On The Daily (1D) Chart AVAX’s price reached a daily low of $16, forming good support for the price to bounce off. AVAX’s price rose to $30, but it couldn’t break through the resistance because the price was sharply rejected. AVAX is currently trading at $19....
