Avalanche: Can last week’s achievements beat the odds of a downtrend?

Avalanche’s social dominance and mentions increased. Metrics remained in support of a price pump, while market indicators suggested a trend reversal. 3 February’s weekly roundup of Avalanche [AVAX] pointed towards a general growth of the network. Notably, Ava Labs launched its new explorer for Avalanche P-Chain, which came with several useful features. Latest news update […]

The good times, however, seemed to be ending as AVAX’s price declined by 4% in the last 24 hours. Most market indicators revealed that bears had entered the market, which could lead to a price decline over the coming days.

Moreover, the Relative Strength Index was just near the overbought zone.’s Chaikin Money Flow went down and was resting below the neutral mark, which was a development in the sellers’ favor. In addition, the MACD displayed the possibility of a bearish crossover, further increasing the chances of a continued downtrend.Subscribe to get it daily in your inbox.

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