Soon after touching its nearly two-year high in March 2024, Avalanche [AVAX] took a bearish trajectory and was on a downtrend. The altcoin’s s
The crypto’s bull vs bear indicator showed some hopes for revival.took a bearish trajectory and was on a downtrend.
However, the altcoin witnessed a streak of red candles on its chart and kept losing important support levels. One major level was the Point of Control line of the volume profile visible range. Finally, the $24.4 level reignited a bullish rebuttal over the past few weeks. As a result, AVAX saw a bullish breakout, but the 20 EMA continued to pose near-term recovery hurdles.A potential decline below the $24 support can set the stage for the sellers to continue their bearish trend. They could look to test the $17-$19 support range should the altcoin fail to uphold the immediate support level.
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