<b><i>The AVAX coin price shows a bearish continuation after the 200-day EMA fallout retest. Will the falling prices halt near $50?</i></b>

<span style="font-weight: 400">Avalanche is the most efficient smart contract platform in the blockchain market in terms of time-to-finality. Avalanche is extremely quick, cost-effective, and environmentally friendly. Any application that is smart contract-enabled can beat its competitors by using Avalanche.</span>

<span style="font-weight: 400">AVAX is the primary token of Avalanche. It is a highly-capped, rare asset that is used to pay charges, protect the platform with staking and serve as a base account for the various subnets that are created on Avalanche.</span>

<span style="font-weight: 400">Let us move ahead to read about Avalanche technical analysis.</span>
<h2><b>Past Performance of AVAX</b></h2>
<span style="font-weight: 400">The AVAX coin price retests the breakdown of a descending triangle in the daily chart after finding demand near the $60 mark. However, the coin price reverses from the 200-day EMA close to $72. The prices fall up to 10% in the <a href="https://www.cryptoknowmics.com/news/avax-technical-analysis-higher-price-rejection-brings-sellers-back/">past two days</a> resulting in the bearish engulfing candlesticks. </span>

<img src="https://s3.tradingview.com/snapshots/r/rsunRMPt.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/rsunRMPt/"><span style="font-weight: 400">AVAX/USD Daily Chart</span></a>
<h2><b>AVAX Technical Analysis</b></h2>
<span style="font-weight: 400">The AVAX coin price faces a downfall of 40% in the past two weeks as it retraces from the 200-day EMA. Moreover, the increased trend momentum might shortly break below the $50 mark.</span>

<span style="font-weight: 400">The crucial </span><b>Exponential Moving averages</b><span style="font-weight: 400"> show a bearish crossover of the 50 and 100-day averages in the daily chart. Moreover, the price retests the fallout of the 200-day EMA as it shows a bearish continuation.</span>

<span style="font-weight: 400">The </span><b>Momentum indicator</b><span style="font-weight: 400"> shows a sharp rise in the slope as it approaches the zero line mark in the daily chart. However, the slope remains within the negative territory suggesting a bearish trend in action.</span>

<span style="font-weight: 400">The </span><b>Commodity Channel Index </b><span style="font-weight: 400">shows a bullish attempt as the slope exits the oversold zone to enter the neutral arena. However, the slope shows a reversal reflecting bears undermining the attempt.</span>

<span style="font-weight: 400">In a nutshell, the indicators reflect the failed bullish attempt and an increased possibility of a downfall below the $50 mark.</span>
<h2><b>Upcoming Trend</b></h2>
<span style="font-weight: 400">The AVAX coin price action shows a bearish continuation after the retest of the 200-day EMA. The coin price shows increased trend momentum as it continues to approach the $50 mark.</span>

<span style="font-weight: 400">The price action suggests support levels at $60 and $50 below the 200-day EMA that sellers can target as the next bearish stop. And, in case of a bullish revolt, resistance levels are at $70 and $80.</span>

At the time of writing, TradingView gives a "SELL" signal for the AVAX coin.
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<div class="tradingview-widget-copyright"><a href="https://www.tradingview.com/symbols/AVAXUSDT/technicals/" target="_blank" rel="noopener"><span class="blue-text">Technical Analysis for AVAXUSDT</span></a></div>
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AVAX Technical Analysis: Bearish Continuation Soon to Reach $50

The AVAX coin price shows a bearish continuation after the 200-day EMA fallout retest. Will the falling prices halt near $50?

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

AVAX Technical Analysis: Bearish Continuation Soon to Reach $50

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