Over the past 24 hours, Avalanche's (AVAX) price has dropped by 5.24% to $50.95, continuing its negative trend over the past week with a 13.0% loss. The daily and weekly Bollinger Bands indicate increased volatility, while trading volume has decreased by 24.0%. Despite this, the circulating supply has increased slightly by 0.28%, bringing it to 377.42 million (52.42% of the max supply). As of the latest data, AVAX ranks 11th in market capitalization with a value of $19.19 billion.
Avalanche (AVAX) Loses Ground Amidst Bearish Market Outlook
Over the last 24-hour period, the price of Avalanche (AVAX), a prominent cryptocurrency, has experienced a significant decline of 5.24%, currently trading at $50.95. This downturn follows a week-long downtrend, with AVAX witnessing a cumulative loss of 13.0%, dropping from $57.97 to its present value.
Technical analysis indicates that AVAX is facing increased volatility, as evidenced by the widening Bollinger Bands on both the daily and weekly price charts. Bollinger Bands serve as a measure of price volatility, and their expansion suggests heightened market instability.
Furthermore, trading volume has decreased by 24.0% over the past week. Conversely, the circulating supply of AVAX has increased by 0.28%, reaching 377.42 million, which represents approximately 52.42% of its maximum supply of 720.00 million.
Notably, AVAX has experienced a decline in its market cap ranking, currently sitting at #11 with a market capitalization of $19.19 billion.
It is crucial to emphasize that this article does not constitute investment advice, and investors are advised to conduct thorough research before making any financial decisions. The cryptocurrency market is known for its inherent volatility, and investors should exercise caution when navigating this landscape.
Disclaimer: This article was generated by Benzinga's automated content engine and reviewed by an editor. The information provided is for informational purposes only and should not be construed as financial advice. Benzinga does not provide investment advice. All rights reserved.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
