A Most Unfortunate State of Affairs
Is AVAX About to Experience a Rather Nasty Plunge?
One observes, with a degree of weary resignation, that AVAX appears to be trapped within a descending channel – a pattern redolent of impending doom. Quite dreadful, really.
What Are These People Actually Doing?
It transpires that AVAX traders are indulging in a spot of reckless over-leveraging, perching precariously at $16.79 and $17.65. A financial tightrope walk, if ever there was one. 🤦♀️
Avalanche (AVAX), it seems, has fallen from grace. Market sentiment, one is given to understand, has taken a decidedly gloomy turn, suggesting a drop of significant proportions is nigh. Apparently, the chaps at Coinglass and CryptoQuant have numbers that confirm this most unappetising prospect. Particularly distressing is the enthusiasm with which speculators are placing bets against the poor thing.
A Signal of Utter Discontent?
Our over-leveraged friends have, rather predictably, congregated around $16.79 and $17.65, conjuring up liquidation zones of considerable heft. $1.07 million in long positions and a rather alarming $4.15 million in shorts. A preponderance of sellers, naturally. A most bearish signal indeed. One almost feels sorry for the bulls. Almost.
But there is more, alas. CryptoQuant’s Futures Taker CVD data – a rather barbaric measure, if you ask me – reveals a relentless onslaught of taker sell orders. Traders, it seems, are convinced that AVAX is unlikely to experience a resurgence of optimism anytime soon. A rather pessimistic bunch, wouldn’t you agree? 🙄
Combining these…indicators…with the general air of despondency, one concludes that AVAX is currently under the thumb of the bears. A rather unpleasant prospect. This, naturally, raises the question of whether one should discreetly offload one’s AVAX, or, perhaps, join the fray and place a short position. Though the latter feels frightfully opportunistic.
As of this moment, AVAX is down a paltry 2.85%, trading at $17.20. Market participation, it appears, has waned considerably, with trading volume slumping to a mere $387 million. Such a lack of enthusiasm is hardly encouraging. 😔
A Technical Examination (For Those Inclined)
AMBCrypto’s technical analysis, of the four-hour variety, suggests that AVAX has been meandering within this descending channel since October 2025. A rather monotonous existence, wouldn’t you say? However, following a brief flicker of hope, the price encountered resistance at the upper boundary – a level at which it has predictably succumbed to selling pressure.
Should AVAX continue its descent and remain stubbornly below the $18-level, one could anticipate a further decline of 18%, potentially reaching the support at $14. It could, of course, go lower. Such is the nature of these things.
AVAX’s grim outlook remains valid, naturally, as long as it refuses to climb above $18. Otherwise, the whole sorry business may be averted.
Despite all this gloom, technical indicators have been attempting a foolish degree of optimism. The Supertrend indicator, for instance, obstinately flashes green, suggesting an uptrend. And the Average Directional Index (ADX) registers a pathetic 20.35, well below the critical threshold of 25 – indicating a complete lack of directional conviction. A truly baffling display.
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2025-11-10 08:16