Avax support of $ 16, but the challenges for bulls in the long run star-news.press/wp

• Re -test Avalanche subsidies area $ 16 and bounce higher.
• Despite the bounce and increased activity on the chain, the bulls may not be bonus in the long -term in the coming weeks.

Avalanche (Avax) has been in the direction of landing since June 11. He decreased by 26 % in less than two weeks, but began to recover on Monday by 9.26 %.

Recently, it was reported that smart money investors were in profit and continued to retain AFAX.

Meanwhile, retailers began to achieve profits, and retail derivatives began to betting on short positions.

The activity on the series began to increase significantly over the past few days. It did not match the rises made in April, but the rise in the activity was encouraging.

Changing the active addresses for 7 days in 204 % was at the time of writing this report.

Continuous activity can push the demand for ice collapse and may help recover it. The price also alluded to a potential upward reflection.

The profits of traders?

The (white) range extended from $ 16 to $ 22.9, with average level at $ 19.5. The last losses witnessed a re -testing the lowest levels of which were defensed as support in April and March.

The bull team won the battle again, and it seems that AVAX will climb to medium -term resistance $ 19.6.

However, the technical indicators remained declining. The wonderful oscillator continued to reflect the landfill, and OBV was less than its shadow early May.

This indicates that the pressure pressure was the upper hand.

If the daily trading volume remains less than the average in the coming days with Avalanche move about $ 19.5, then merchants must prepare to reject medium -range resistance.

While one day the chart showed the formation of a range and the possibility of moving to $ 22.9, it must be recognized that Avalanche was trading a long run south from where was in December 2024.

The decrease from $ 54 in December to $ 18.1 at the time of writing this report, a 66.3 % decrease in six months.

The world scale inside/outside the scale showed that 65.95 % of their holders were out of money, and 27.18 % were in money. This means that there are large numbers of holders who want to get out of the market when a tie.

Even if Avalanche can gather, the number of sellers ready to get out of the market will remain high, because many of them were losing now.

Looking at the weak feelings about most Altcoins, it seems that the Avalanche investors should remain cautious until Bitcoin’s dominance began to decline, and the capital’s rotation in Altcoins began.