- AVAX whale activity is slowing down, leading to reduced large transactions volume and price consolidation.
- A drop to the $22 support level could provide the needed accumulation for a potential trend reversal.
🐳 Attention, Avalanche [AVAX] enthusiasts! Our beloved whales are taking a breather, causing a significant dip in large transactions. 📉
As a result, AVAX has been consolidating below a key trendline resistance since the 6th of February. 📈 But don’t panic just yet!
With whale activity on the decline, the token may struggle to break this resistance. Instead, the price would retest lower support levels, with $22 being a significant zone. 💸
AVAX price consolidate under a key resistance
AVAX has been in a close consolidation beneath a major trendline resistance that has been in hold since early August, indicating that there is little bullish momentum. 😴
Historically, significant price actions have followed such consolidations. With whale activity on the decline, the token may struggle to break this resistance.
Instead, the price would retest lower support levels, with $22 being a significant zone. This level has acted as a solid buildup area for a long time, possibly gaining enough bullish momentum to change the trend.
Could $22 provide a path to bullish revival?
If AVAX fails to gather enough buying pressure to breach the trendline resistance, a drop to $22 could be on cards. This level could serve as an accumulation zone where big players could take their long positions. 📈
For AVAX to change its trajectory the altcoin needs to accumulate sufficient bullish momentum and $22 seems to be the nearest launchpad for a bullish reversal. 🚀
Although the current market conditions suggest a possible drop to $22, patience is required. This could be the reversal area for AVAX, where buyers can take long positions and push prices higher. 🤑
Read More
- EUR JPY PREDICTION
- DF PREDICTION. DF cryptocurrency
- Doctor Strange’s Shocking Return in Marvel’s Avengers: Doomsday Revealed!
- COW PREDICTION. COW cryptocurrency
- TRB PREDICTION. TRB cryptocurrency
- ASTR PREDICTION. ASTR cryptocurrency
- USD MXN PREDICTION
- XDC PREDICTION. XDC cryptocurrency
- YFI PREDICTION. YFI cryptocurrency
- South of Midnight PC Requirements Revealed
2025-02-18 11:39