Avalanche (AVAX) has dropped to critical levels. The falling volumes in the past days have started to scare AVAX investors. AVAX, which regressed sharply in the declines, cannot give the same reaction in the rises.
With a market capitalization of more than $25 billion, AVAX is ranked 11th according to CoinMarketCap data. Hovering around $106 levels, Avalanche has gone way back from the volume levels found in the past months.
The volume decline, which some analysts attributed to the Christmas period, actually continued before Christmas. With the declines in Bitcoin, AVAX continues to withdraw sharply.
Considering that the $100 support is both technical and psychological support, if there are closes below this level, the possibility of sharp declines seems very high.
AVAX, which is expected to bounce from $ 100, which is the psychological and technical support level with trend support, is expected to rise up to $ 121. The rise of Bitcoin seems very important in AVAX, which can try the $ 135 levels with the breaking of this resistance.
AVAX, which can regress to lower levels if BTC continues to decline, needs to diverge positively from Bitcoin in order to move according to its own chart.