Will AVAX Tap at $50 After Its $23 Downswing in the Past Week?
2022.05.18 18:21
Will AVAX Tap at $50 After Its $23 Downswing in the Past Week?
- AVAX might see a sudden upswing in the coming days if it breaks the $40 support level.
- The coin crashed by 85% since its ATH in November 2021.
- Currently, the coin trades at $33.3.
With the upheaval of the global crypto market in the past two weeks, almost all the cryptocurrencies, including stablecoins, went down the slide to reach the worst prices. However, most of the coins are now recovering from this stage and seem to hike soon. Avalanche (AVAX) is expected to surf with an upward trend, as it indicates a gradual surge since May 13.
AVAX tapped its all-time high at $146.8 in November 2021. Since then, the price of the coin see-sawed, with a nearly 84% crash. Notably, the majority of this price fall happened in the past weeks, along with other coins.
As predicted by crypto market analysts, the US Federal Open Market Committee’s (FOMC) decision to increase the interest rate left Terra (LUNA) and UST price down. As the stablecoin price worsen …
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