The selling pressure in AVAX, which is in sixteenth place behind the leading cryptocurrency, continues to increase. Accompanying the hard sell in the crypto money markets, AVAX tested the horizontal resistance at $ 16.05, which I analyzed yesterday. In AVAX, which is trying to stay above this level with later purchases, the support level of $ 16.05 has worked for now. AVAX, traded above the EMA100 and closed yesterday, has broken the EMA100 support level with the selling pressure experienced today. If the $16.05 horizontal support is broken down, the pullback to $14.31 could continue. AVAX started the day at $ 17.76 yesterday and closed the day at $ 17.47, with a decrease of 1.69% after testing the highest level of $ 17.86.

Avax, which started today at $17.47, is trading at $16.42 with a decrease of 6.01% at the time of writing.

AVAX Chart Analysis

Continuing its downtrend for days, AVAX started the new day with hard selling pressure. In my analysis yesterday, I mentioned that selling pressure might increase with the downward break of the averages, and the horizontal support point at $ 16.05 is targeted. AVAX, which tried the horizontal support resistance of $ 16.05 with the selling pressure that started after last night’s close, is currently trading at $ 16.42 with purchases from this region. In AVAX, which broke all the averages, if the selling pressure continues and the horizontal support is broken to the downside, the $14.31 level is the first support I will follow as the support point. In case the repurchases continue, $17.21 at EMA100 and $17.33 at EMA5 are the first resistance points I will follow.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when deciding.

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