Avalanche AVAX Falls Below $26, Down 31%: Is $30 Still Possible?
The Avalanche AVAX cryptocurrency has fallen below its $26 resistance level, dropping over 30% in the past month according to price charts. Whale sell-offs of the altcoin total $780 million, indicating worry among large investors over the asset’s future. On-chain data previously showed strong resistance at $27.91, a level it hasn’t hit since last week. Now below $26, investors are questioning if price predictions for AVAX hitting $30 are still plausible. With altcoin season set to begin sometime next month, the crypto market anticipates many altcoins like AVAX to rebound. The market has faced resistance since the start of the year, with most coins in the red. Avalanche’s price trend has surpassed a local resistance trendline. This marks a bullish breakout of a descending triangle pattern, which previously followed a bearish trend. With the breakout rally, the AVAX price trend is aiming to challenge the 23.6% Fibonacci level at $26.65. Currently, AVAX trades at $25.48, ...