|Performance after Wednesday 09-Nov|
Avalanche (AVAXUSDT) price for the week to-date dropped -27.92% or -5.09 lower to 13.14. At time of writing into Thursday’s trading session, Avalanche has decreased by -15.77% over the past 24 hours. For the record, AVAXUSDT is -90.94% below all-time high of 144.96. On Wednesday, AVAX dropped -2.12% to 15.68.
On the daily timeframe, price is below 9-Day EMA and Stochastic oscillator is falling, our analysis is that there could be selling pressure as the outlook looks bearish.
For the month-to-date, AVAX is down by -31.85% or -6.14 lower.
What can we expect from Avalanche today?
Looking ahead for the day, we are looking at 18.16 or 16.05 (R1) as important resistance levels and daily low of 15.54 and 15.43 (S1) as key support levels. Avalanche need to break on either side to indicate a short-term bias. A close below 15.54 would indicate selling pressure.
For the week to-date, take note that Avalanche is falling as the pair posted lower, down by -27.92%. Prior performance for the week ending 2022-11-06 was -0.16%.
Key levels to watch out:
Last updated: 01:27 am UTC, 10-Nov 2022
Avalanche is a high throughput smart contract blockchain platform. Validators secure the network through a proof-of-stake consensus protocol. It is said to be fast, low cost, and environmental friendly.Mainnet was launched in September 21, 2020. Since then, the platform has grown to secure over 100+ individual projects, $1.4M+ of AVAX burned (reducing supply), 950+ individual block-producing validators, and over 500k+ community members around the globe. Decentralized finance (DeFi) applications can be found on Avalanche such as Pangolin, TraderJoe, and more.