Avalanche surprised everyone this past week with a significant rally that topped at a new all-time high at $147. However, ever since then, AVAX has corrected, and today’s candle took price all the way back to $100.
Moreover, AVAX also completed a bearish cross on the daily MACD today. If it closes the day like this, then this is a major warning sign that lower price levels could be reached in the future. In the best-case scenario, AVAX’s price should contain the correction just above $100. Then bulls can then recover from this assault and attempt a recovery.
In general, it is important to remain very careful as the market is currently in a state of instability, and a lot of volatility might come into play. Therefore, vigilance is of utmost importance.