Avalanche (AVAX) has pushed forward with its its ascent, despite market obstacles and negative circumstances over the past few weeks. Analysis of the Avalanche price reveals a bearish trend AVAX market sentiment remains bullish AVAX/USD trading at $20.57 as of this writing Due to the unfavorable market conditions, its market cap dropped by almost $2 billion over the last two weeks, but it is now trying to recover. At the time of writing, Avalanche’s market cap – at $5.8 billion – was below its monthly high but above its monthly low. But with the market still trying to recover from last week’s fall, will more value permeate the blockchain network now? Related Reading: Polkadot Dev’t Activity Up In Last 7 Days, Despite Steady Drop In DOT Price Avalanche Price Circling Support Line It should be noted that for the past five days, AVAX has been circling above its support line. Its rising range, during which it has been oscillating for the last nine weeks, has the same support line. As the cryptocurrency declines approaching the $22.62 level, Avalanche price research reveals a bearish trend in the market. The $23.63 level is now acting as resistance for the AVAX/USD pair, and it must be broken in order for the pair to go higher. But it’s likely that the bears will take over the market and drive the price down to the $22.52 support level. The one-day Avalanche price analysis has verified a negative trend...
