AVAX cost today efforts another breakdown listedbelow the essential $10 mental mark. With an intraday fall of 1.10%, a bearish candlelight fractures listedbelow $10 and types a low of $9.91.
Closing listedbelow $10 will mark a strong drop and boost the bearish belief around Avalanche in the market.
In the 1-day Avalanche chart, the AVAX rate pattern shows a sharp correction that vaporizes the early 2023 bull run gains. With a YTD loss of 7.93%, the current correction breaks down numerous vital need blocks.
The AVAX cost action makes a falling wedge structure with the continuous correction as its unfavorable cycle. The down cycle accounts for a 32% drop in the last 40 days and is yet to reach the assistance trendline.
However, the day-to-day RSI line recuperates and spikes favorably in the oversold arena, signaling a bullish divergence.
Will AVAX Prices Sustain Above $10?
With purchasers havingahardtime to hold off the AVAX rates above $10, the increasing offering pressure cautions of a extension. The unfavorable cycle may reach the assistance trendline of the falling wedge. Moreover, the hold-up in general market healing continues to pressurize altcoins and might crash the AVAX