$AVAX , designed by @Avalanche_CN and promoted by the @DAO Labs community within such initiatives as #SocialMining, has recently become technically rebounding after passing its previous support level. This action was after this development of geopolitics which initially prompted a sell-off which caused price action to provide a reversal to this structurally significant area.
The current rebound was not a random one. The stampede news resurfaced and Price reacted to the development, this is an indication of how macro factors and localized conflict can affect crypto volatility. Technically, the strong zone stood ground, a sign, buyers are alive at the historically supported price levels.
In case ceasefire strategies translate into larger market positivity, the obvious course of action of $AVAX would be to attack past resistance areas. Such targets match with the distribution levels of the past, giving technical support on price recovery. In the meantime, there may be negative geopolitical news that may continue to push the price back to the existing support.
Participation-wise, when it comes to #SocialMining players in the #AvalancheHub , it is better to believe that this volatility is something that they should not take as an obstacle, but an opportunity to position themselves. The model implemented by DAO Labs compensates people who share valuable technical analysis with reasonably-informed participants. In this context, the use of dollar-cost averaging in areas of support is a popular strategy of coping up with fluctuations though it also aids in the enhancement of market literacy.
