Avalanche NFT Marketplaces Are Booming, Aiding AVAX Price Recovery
Avalanche (AVAX) is attempting to create its first higher low since reaching a temporary bottom in June, however it has yet to show any decisive bullish reversal signs. The AVAX non-fungible token (NFT) marketplace is booming and this week it saw a new seven-week high in volume. Roughly 48% of this volume came from Chickn. Despite the flurry of positive news, the price has yet to confirm any sort of bullish reversal. To the contrary, AVAX has broken down from an ascending support line that had been in place since the June lows. Such breakdowns usually mean that the preceding upward movement has now come to an end. If a short-term bounce transpires, there would be strong resistance at $22.60. This is the 0.382 Fib retracement resistance level and coincides with the previous ascending support line.
Source
https://t.me/nfts_defi_metaverse
