2023-4-8 18:00 |
The protocol said the subnet will be a suite of institutional blockchain deployments and tooling specifically designed for financial services.
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Despite the latest increase in the global market cap, Avalanche’s price remained down and continued to consolidate on the daily timeframe. A drop below its weekly low could trigger a short-term retracement.
Avax saw a notable dip in the last 24 hours due to the ongoing loss across the space. However, the trend remains bullish on the daily chart but the price is currently weak as selling pressure increases hourly.
Avax is down 11% weekly after failing to sustain recovery above the $44 level. It is forming a bearish pattern on the weekly chart and may continue to lose momentum until it reaches an exhaustion point.
Avax appeared to stall under a key resistance for two weeks but has managed to post 10% gains despite facing hurdles. Having seen a slight bounce this week, it is still finding it difficult to break higher.
Avax looks a bit calm on the daily after mounting weekly support around $19. It has formed a bullish pattern above this price level on the hourly and now looking prime for a resurge. The price is currently up 2.
Crypto market capitalization rose 2.3% in the past 24 hours.
Avalanche’s native token, AVAX, recently dipped below $10, marking its first time below this threshold since Jan. 2021, as per data from CryptoSlate. Over the last 24 hours, the cryptocurrency saw a 1.