AVAX at $9.21 flashes death cross as key $9.00-$9.20 support comes under test
- —AVAX has fallen 23% from $12.01 to $9.21 over 23 days on roughly half the average volume per candle
- —The 50-period EMA ($9.79) dropped below the 200-period EMA ($9.90), a 4-hour death cross
- —RSI sits at 35 versus a 45 signal line, with a mild unconfirmed bullish divergence
- —Schwab values AVAX at 200-1,200x the network fees collected over the past three years
Why it matters: The falling wedge resolves around October 26-27: a close above $9.90 would cancel the bearish signal, while a break of $9.00 opens the way to $8.20.
Source: Crypto News Flash