Due to High CPI Data, AVAX Price Rebound Fails To Cross $22 Resistance.

September 15, 2022


AVAX managed to remove from June to July, and in August, this sign slipped and created a positive shape and form of manipulation. This method can now be found at the base of the market, but is a possible set for the restoration of crypto combinations, but to complete the form, currency prices. 30.6 must approve the original opposition. A V-top reversal was seen at $30.6 and AVAX coin price fell to $18.4 at the Fibonacci retracement level. However, a 25% jump to $22.53 could be beneficial for buyers who can enter that level. On the other hand, the mass sale in the cryptocurrency market did not allow the price of AVAX to improve and threatens to fall further.

The sell-off on September 13 reduced the likelihood of the pattern ending. Obviously yesterday’s fall was due to higher CPI or consumer price data. At the time of writing, AVAX was down 1.51% or trading at $18.84, according to CoinMarketCap. A lower level seen with AVAX indicates bullish determination or weakness. If the selling pressure increases, AVAX could fall to $18.3 and then try to break above that level, which could further extend the decline from the $13.6 low support seen in June. Now, if the buyers can protect the support zone at $18.3, the volatility can continue and the price of AVAX coin can rise to $31.4. The Avalanche EMA shows that all indicators are moving lower except for the 50-day moving average, which is a barrier for AVAX price.

The AVAX RSI is showing a bearish trend below the average line, indicating negative market sentiment. KKR CEO announces $417 billion merger
In other news, Avalanche Labs (AVAX) CEO Amin Han Sirer announced on September 14 that KKR entered into a $417 billion merger with Avalanche. With Securitize, a fintech company, Avalanche will seek tokenization and access to a wider range of markets. The announcement of the partnership has increased social media numbers over the past few months. Additionally, AVAX’s social contributions increased by 148.7% and social mentions by 257.3% over the last three months. In addition, Avax’s market cap rose 4.31% last week, with trading volume reaching 487 million a year ago from 324.2 million on September 12.

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