Avalanche (AVAX) has begun July with a decline, experiencing a 3.5% drop in price, currently trading at $17.59. This downturn has brought it to a year-to-date low of $15.30. The coin is at a critical juncture, with mixed signals from indicators; some suggest a potential recovery while others indicate a continuation of the bearish trend. AVAX is trading below the 50-day and 100-day Exponential Moving Averages, typically a sign of a strong bearish trend. A concerning inverse cup-and-handle pattern is forming, indicating further declines, although a triple-bottom pattern offers some bullish hope. Key support is at $15.25, with resistance at $26.79. A break above could lead to a 112% increase, while a drop below support may result in further losses. Despite the price struggles, Avalanche's network activity surged by 233% in transactions, driven by FIFA's NFT marketplace decision and stablecoin popularity, indicating real-world adoption and potential future value growth. Read more AI-generated news on: https://app.chaingpt.org/news

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