AVAX whale activity slows down, which decreases the large trading volume and the price causes consolidation. Crypto analyst Kelvin Murithi ‘ According to, 22 dollar Support SeviA decrease in the food can provide the necessary accumulation for a potential trend return.
A VAX whale activity has slowed down since the beginning of this month
Balina processes, known to have stimulated prices, have fallen significantly. This has led Avax to consolidate under a significant trend line resistance since February 6. The fact that big players do not make big moves creates question marks about Token’s short -term course. Will this lead to the $ 22 support level?
Source: IntothheblockAltcoin is consolidated under an important resistance
AVAX is in a close consolidation under the main trend line resistance that has been going on since the beginning of August. This shows that the rise momentum is less. Historically, important price movements have followed such consolidations. With the whale activity in the decline, token may find it difficult to break this resistance. Instead, the price will re -test lower support levels, including $ 22 an important region. This level has acted as a firm area for a long time, and probably gained sufficient rise acceleration to change the trend.
Source: TradingViewSo, can $ 22 provide a way to revive the rise? If AVAX cannot collect adequate purchase pressure to overcome the trend line resistance, there may be a decrease of up to $ 22. This level can serve as a accumulation zone where big players can take long positions. Altcoin needs to accumulate adequate rise acceleration to change Avax’s orbit, and $ 22 seems to be the closest launch ramp for the rise to reversed.
Although the current market conditions point to a possible decrease up to $ 22, it is necessary to be patient. This can be the reverse turn area for Avax where buyers can take long positions and increase prices.
The opinions and estimates in the article belong to the analyst and are not definitely investment advice. Kriptokoin.comWe recommend that you do your own research before investing.
