Maxwell Williams 
Having tested the 21.62 resistance last week, AVAX could not meet the selling pressure from this level and entered a downward trend. AVAX, which had a rapid pullback, lost about 20% in four days and continued to upset its investors. AVAX has been consolidating in a narrow area for the last four days and continues its weak appearance by drooping below the averages. Yesterday, AVAX, which started the day at $ 18.44, closed at $ 17.93, with a decrease of 2.71% after seeing the highest level of $ 18.65.
Avax, which started today at $17.93, is trading at $17.63 with a decrease of 1.67% at the time of writing.
AVAX Chart Analysis
Returning from the 21.62 resistance, AVAX upsets its investors by withdrawing quickly. Pretending to break the resistance of EMA200 last week, AVAX, which has been on the decline, has shown that it has repeatedly lost strength by breaking the downward averages. Finally, in AVAX, whether it will hold on to EMA100 in the support region, failing this region will increase the selling pressure. Our first support area is $17.22, the EMA100, and $16.05, our horizontal support below. In upward movements, our first resistance points are; EMA55 at $17.88, EMA5 at $18.22, and sideways resistance at $18.73 for today.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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