One of the significant catalysts would be Russia’s war declaration this morning.
Avalanche has been down 15.08% in the last 24 hours.
Luna’s price steadied following its steep fall at the beginning of this month and remained within its parallel channel. After a few attempts to break through the levels, the Terra price eventually broke through the consolidation to climb to a new high. The uptrend must be sustained until the breakout is confirmed as long as a solid bullish day is close above these levels.
LUNA/USDT: Source: TradingView
During the latest sell-off, the LUNA price fell well below the trend line that has been in place since the third quarter of 2021. Attempts to cut through these tiers have undoubtedly been made in the past, but they resulted in a counterfeit. But today, the prices went down and are now trading at $51, down 10% in the last 24 hours. One of the significant catalysts would be Russia’s war declaration this morning.
Avalanche (AVAX)
There are approximately 171 protocols on Avalanche, making it the fourth-largest DeFi chain globally and a noteworthy asset in the crypto market. AVAX’s 1324 percent increase in August 2021 seemed encouraging even as an investment vehicle. It’s still the case based on current market conditions.
AVAX’s share price fell by 26.54 percent due to recent occurrences. AVAX recently recovered 13.5% from its previous 24-hour low, making it worth $79 even though it had failed to retest the critical support of $89.5. But it could not sustain the momentum similar to LUNA and fumbled today to $65.
According to CoinMarketCap, the Avalanche price today is $65.94 USD with a 24-hour trading volume of $2,168,956,212 USD. Avalanche has been down 15.08% in the last 24 hours.