Avalanch price Early signal Points on powerful bullish

The Avalanch price fell on the crucial support level and created a wound signal of the bakery, pointing to a potential leap.

Avalancha (Avaq) It collapsed to an important level of support to $ 20, down for over 65% from its highest level in December.

The recent decline is largely driven by the total performance of the crypto and the stock exchange as the risk worsens. Bitcoin (Btc) And most Altzoins slipped on the technical bear market this year.

The two main risks that are currently striving in markets are proposed tariffs and growing fears that artificially intelligence bubble begins cracking.

At the same time, the avalanche continuously lost market share of newer layer projects-1 such as Berachain, base, arbitrum and suey. Its total value is locked to 1.66 billion dollars that is significantly lower than Berachain’s $ 3.1 billion and a 2.95 billion database. Avalanka had over 12 billion dollars of property at its peak.

Additional network data show that Avalanche Application income Worsen in recent months. The net achieved only $ 430,000 in March, abruptly suddenly from the top of $ 52 million in December 2023. years.

Still, the Avalancha made some noticeable positive titles. Monday chose Sumitomo Mitsui Financial Group, the second largest bank of Japan, in order to allow the block infrastructure for its impending Stablecoin.

There are and hope that the Securities and Exchange Commission approved a Spot Avax ETF. If approved, the Fund would provide us with exposure to investors Avax. However, it is still unclear whether the interest of investors will follow, because recent data inflows show a strong tendency to spot Bitcoin ETFS.

Avalanche technical analysis

The weekly chart shows that Avak fell to a key psychological level to $ 20. This is a notable support zone, because it was held in September last year and launched a 195% leap.

The Avalanch formed a falling pattern of wedge, a popular signal for bakery reversion. This formation contains two descending, converging trendlines and often precedes an interruption of upside down. If this happens, the next hour resistance will be $ 30.

However, the decisive break under the $ 20 support would signal further, with the following main support to $ 9, the lowest point 2023. years.