Crypto News
- AVAX is testing a crucial support level at $19, forming a symmetrical triangle that indicates market uncertainty.
- Bearish on-chain indicators and a high percentage of underwater investors suggest a potential pullback.
Avalanche [AVAX] is currently consolidating within a symmetrical triangle pattern on the four-hour chart while testing an vital support level of $19.
This support has remained intact in recent price movements, which could lead to a possible rebound.AVAX is presently trading at $19.56, reflecting a slight increase of 0.20% over the last day.
Will AVAX maintain its support, or will it decline further? Let’s find out.
Crypto News The latest price action insights for AVAX
At the time of writing, AVAX’s price is testing an essential support level at $19, which has served as a reliable floor in past price actions.
The current formation of the symmetrical triangle suggests an atmosphere filled with indecision among traders and sellers who are awaiting the next move.
If AVAX can break above the upper limit of this triangle , it may experience a brief rally . However , failing to hold this support could result in further declines , potentially leading to more significant corrections .
