After an 8% increase, Avalanche [AVAX] bears took over and pushed the token’s price drop in the last 24 hours.
bears took over and pushed the token’s price drop in the last 24 hours. However, there was more to the story, as this latest price dip might just be the beginning of a new bull rally.The last 24 hours weren’t in investors’ favor as the token’s price dropped by more than 3%. At press time, it wasNotably, after the price drop, 50% of the total number of Avalanche holding addresses remained in profit, as per IntoTheBlock’s.
This clearly indicated that bullish sentiment around the token was high. Additionally, its social volume also increased, reflecting the token’s popularity in the crypto space.had a value of 71%, meaning that the market was in a “greed” position. Whenever the metric hits this level it indicates that the chances of a price correction are high.
We also found that AVAX was testing a support level. On top of that, Avalanche’s MACD displayed a clear bullish advantage in the market.
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