Will Avalanche Ever Recover from Terra Luna Collapse? | AVAX Price Prediction

 

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Avalanche AVAX has seen 6 weeks of red weekly candlesticks which were unprecedented and mainly triggered by the Terra Luna collapse. The previous week's high volume looks like a volume climax, meaning we may have seen the end of this move down.

Furthermore, we are seeing the Fibonacci reach the .887 mark which marked the bottom of the retracement of the previous monthly upswing.

Even if we do recover, however, there is nothing to suggest it will be swift. We still have a downtrend on the weekly, daily, and monthly timeframes. What are the important support and resistance levels? Let's find out with Frank

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Will Avalanche Ever Recover from Terra Luna Collapse? | AVAX Price Prediction

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