A sharp drop in TVL and DApp use preceded Avalanche’s (AVAX) 16% correction
AVAX price gave up recent gains after correcting by 16% and the network’s declining TVL and DApp use suggest that the protocol is losing ground versus its competitors. After an impressive 73% rally between July 13 and Aug. 13, Avalanche (AVAX) has faced a 16% rejection from the $30.30 resistance level. Some analysts will try to pin the correction as a "technical adjustment," but the network’s deposits and decentralized applications reflect worsening conditions.Avalanche (AVAX) index, USD. Source: TradingViewTo date, Avalanche remains 83% below its November 2021 all-time high at $148. More....
Related News
Avalanche (AVAX) price may be a point of interest for many analysts especially since the gaming token is exhibiting formidable strength amid a bear market. AVAX price reveals a consistent ramping activity combined with a rise in price. Avalanche RSI reveals a breach on the overbought zone. High probability of breach can occur at the $50 barrier. Related Reading: Cardano Tests $0.51 Support – Can ADA Reach Safe Zone And Hit $0.67? AVAX Shows Solid Traction At $29.50 According to CoinMarketCap, AVAX price is currently swinging it at $29.50 and is showing immense bullish traction with an....
MATIC price is still 50% below its all-time high, but the network’s TVL and DApp data hint that the layer-2 solution remains a serious contender. After a devastating 50% correction between Dec. 25 and Jan. 25, Polygon (MATIC) has been struggling to sustain the $1.40 support. While some argue this top-15 coin has merely adjusted after a 16,200% gain in 2021, others point to competing scaling solutions growth.MATIC token/USD at FTX. Source: TradingViewEither way, MATIC remains 50.8% below its all-time high at an $11 billion market capitalization. Currently, the market cap of Terra (LUNA)....
AVAX price posted a multi-month higher high, signaling that the altcoin’s downtrend is over, but a decline in network activity could weigh on the current rally. Avalanche (AVAX) jumped 43.8% between March 14 and March 31 to a $97.50 daily close, which is the highest level since Jan. 5. This layer-1 scaling solution uses a proof-of-stake model and has amassed $9 billion in total value locked (TVL) deposited on the network’s smart contracts.AVAX token/USD at FTX. Source: TradingViewSubnet adoption propels the recent price rallySome analysts attribute the rally to Avalanche’s incentive....
AVAX, the native token of Avalanche blockchain network, has now lost almost 90% of its November 21, 2021 all-time high price of $144.96. AVAX was severely affected by buying pressure over the last two months The altcoin declined by almost half over the last 60 days Resistance range targeted by AVAX is between $18.3 and $18.5 According to tracking from Coingecko, at press time, the cryptocurrency is trading at $15.07 and is seeing red in every zone of its price monitoring chart. In its intraday performance, the altcoin is down by 1.3% and has declined by 3.9% over the last seven days. AVAX....
SOL's bear flag setup sees its price declining to $21 by September 2022. Solana (SOL) ticked modestly lower on July 20 after testing a critical technical resistance, suggesting further pullback moves in the coming weeks.SOL price eyes 50% wipeoutSOL's price decreased by over 4% to $44 after failing to breach a multi-week ascending trendline resistance. Interestingly, this resistance level comes as a part of what appears to be a bearish continuation pattern dubbed the "bear flag."A previous test of the same resistance trendline in late June had preceded a 30%-plus price drop, illustrating a....