Beware of $AVNT 's excessive killing! Does the MACD dead cross indicate a precursor to a crash?
From a technical perspective, AVNT's hourly chart is struggling. Currently, the price of 2 is being pressured by the moving average system. The MACD has formed a dead cross below the zero axis, and there are signs that the lower Bollinger Band may be broken. The continuous contraction of volume indicates that bottom-fishing funds are hesitant to enter the market.
On the news front, this small cryptocurrency lacks independent positive factors and mainly depends on the performance of Bitcoin and sector rotation.
On-chain data is missing, but this low market cap token is easily controlled by large players.
In my personal opinion, the risk of AVNT today outweighs the opportunity, and the psychological barrier of 2.0 is unlikely to hold. The next support level looks to be around 1.8. To bet on a rebound in the short term, one must wait for a volume breakout above the resistance level of 2.2; otherwise, it's easy to buy at the halfway mark.
Maple has been seriously analyzing the market and making early arrangements. Friends who want to make profits in USDT might consider joining me to carve out a space in the crypto world!
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