{"id":268640,"date":"2024-03-21T00:25:18","date_gmt":"2024-03-20T18:55:18","guid":{"rendered":"https:\/\/dripp.zone\/news\/why-is-avalanche-price-one-support-break-away-from-20-fall-crypto-news\/"},"modified":"2024-03-21T00:25:25","modified_gmt":"2024-03-20T18:55:25","slug":"why-is-avalanche-price-one-support-break-away-from-20-fall-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/why-is-avalanche-price-one-support-break-away-from-20-fall-crypto-news\/","title":{"rendered":"Why is Avalanche Price One Support-Break Away From 20% Fall? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><span style=\"font-weight: 400;\">Over the past two weeks, the crypto market has witnessed a notable downturn following the lead of Bitcoin price which recently plunged below $65000. While the aggressive selling price sparked a correction phase in most major coins. The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/avalanche-avax-tokenization-potentials-showcased-by-anz\/\">Avalanche coin<\/a> price shows notable resilience above $50 psychological support. Will this demand pressure trigger a fresh recovery trend?<\/span><\/p>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/avalanche-avax-price-rallies-12-binance-announcement-boosts-market-sentiment\/\">Avalanche (AVAX) Price Rallies 12% As Binance Announcement Boosts Market Sentiment<\/a><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<h2><b>Can Avalanche Price Defend $50 Support?<\/b><\/h2>\n<figure style=\"width: 1946px\" class=\"wp-caption alignnone\"><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/s3.tradingview.com\/snapshots\/k\/KSh7jYYG.png\" alt=\"BINANCE:AVAXUSDT Chart \" width=\"1946\" height=\"937\"\/><\/noscript><figcaption class=\"wp-caption-text\">Avalanche Price| Tradingview<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">On March 12th, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/avalanche\/\">Avalanche price<\/a> gave a bullish breakout from the $50 neckline resistance of the cup and handle pattern. This breakout signaled the asset\u2019s escape from a 22-month sideways trend and the start of sustainable growth.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<p><span style=\"font-weight: 400;\">However, with the broader market entering a correction trend, the AVAX price turned sideways witnessing high volatility since last week. Analyzing this consolidation in the 4-hour chart shows the formation of an expanding channel pattern consisting of two diverging trendlines.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">In tandem with the Bitcoin correction, the AVAX price dropped 20% in the last 48 hours and retested the $50 mark and pattern\u2019s lower trendline, The Avalanche coin currently trades at $53.42, with a market cap of $20.13 Billion.\u00a0<\/span><\/p>\n<\/blockquote>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<p><span style=\"font-weight: 400;\">As per the latest news, Avalanche is partnering with Alipay+ to roll out a Web3-supporting e-wallet and voucher program. As highlighted by Wu Blockchain, this collaboration aims to leverage an Avalanche subnet, managed by AvaCloud, to potentially reach over 100 million users in Southeast Asia, further bridging the gap between blockchain technology and mainstream financial services.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Avalanche is cooperating with China&#8217;s largest payment APP Alipay+ to launch an e-wallet and a voucher program that supports Web3. The Avalanche subnet built and managed by AvaCloud provides support for this program and is gradually expanding to 100 million users from the\u2026<\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1770259830063919263?ref_src=twsrc%5Etfw\">March 20, 2024<\/a><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">If the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/markets\/heres-how-reversal-avalanche-price-for-45-breakout\/\">AVAX price<\/a> breaks below $50, it will lose the psychological level, and the channel pattern support, and possibly invalidate the cup and handle pattern. A successful breakdown triggered a quick 20% downfall to hit $40, followed by immediate support at $35.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Technical indicators<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Exponential Moving Average: <\/b><span style=\"font-weight: 400;\">The coin price trading above 100-and-200-day\u00a0 \u00a0indicates the long-term trend remains.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong>Relative Strength Index:<\/strong> The daily RSI slope at 43% reflects the sellers are driving the near-term trend in Avax price.<\/li>\n<\/ul>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<p class=\"m-0\">Related Articles<\/p>\n<div class=\"m-on mobiless\">\n<div id=\"social-section-new\">\n<p>\u2713 Share:<\/p>\n<p>                                  <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new wp_new\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/markets\/why-is-avalanche-price-one-support-break-away-20-fall\/\" style=\"display: block\">  <i class=\"fa fa-whatsapp\"\/><\/a><\/p>\n<div>\n                                <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new tw_new_logo\" href=\"https:\/\/twitter.com\/intent\/tweet?text=https:\/\/coingape.com\/markets\/why-is-avalanche-price-one-support-break-away-20-fall\/\"><br \/>\n  <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"30\" height=\"30\"\/><br \/>\n<\/a>\n                                <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>          <!-- \n\n<div class=\"m-on pl-2 pr-2\">\n            \n\n<div class=\"row\">\n            \n\n<div class=\"col-6 pr-2\">\n         \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-7-crypto-marketing-firms-of-the-year\/?utm_source=abovesidebartabnews&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/15175104\/top_crypto_marketing_agencies.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                  \n\n<div class=\"col-6 pl-2\">\n                 \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-10-web-3-games-to-explore-in-2023-here-list\/\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/23134356\/jpg_20221223_134223_0000.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                <\/div>\n\n\n        <\/div>\n\n                    --><\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA187076\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD187076\">\n<p>  The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. 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While the aggressive selling price sparked a correction phase in most major coins. The Avalanche coin price shows notable resilience above $50 psychological support. Will this demand pressure trigger a fresh [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":268641,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-268640","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/268640","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=268640"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/268640\/revisions"}],"predecessor-version":[{"id":268642,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/268640\/revisions\/268642"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/268641"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=268640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=268640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=268640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}