Summary
TLDR: Avalanche (AVAX) price is expected to continue to decline due to a Death Cross signal and bearish investor sentiment, with a potential target of $27. However, if market conditions turn bullish and the altcoin breaches the $44 resistance, it could see a recovery. This is not financial advice.
Key Points
1. Avalanche (AVAX) price is among the few altcoins showing signs of further drawdown over recovery.
2. To make it even more difficult for the altcoin is that even the AVAX investors are not expecting a rally.
3. Avalanche’s price trading at $37 is set to fall back to test the support of $33, which did not fall through during the recent correction. Losing this support, combined with the bearish market cues, will result in a decline to $29.