Avalanche (AVAX) Fails to Hold $21: What's Next for the Coin
The Avalanche (AVAX) cryptocurrency is back trading below $21, currently slumping 10% in the past week and worrying investors. This comes as large holders of the Avalanche token, aka AVAX Whales, are increasing their net inflows of the cryptocurrency, looking to capitalize on the dipping price. Over the past month, AVAX experienced a 3.64% decline while the six-month performance showed a steeper drop of 55.30%. The price movement indicates a struggle with downward pressure that has hit the market lately. AVAX did climb a bit following the announcement of FIFA’s blockchain partnership with AVAX, but that has since been reversed. With plenty of uncertainty around the Avalanche network, what’s next for the native AVAC cryptocurrency? What’s AVAX’s Next Move? Avalanche AVAX is in a bearish state, and the latest price forecasts suggest that there is less momentum around it than before. Analysts at CoinCodex see the asset reclaiming $21, but not going much further in June. ...