Avalanche (AVAX) shows signs of a bullish trend, but struggles due to strong bearish pressure. For a bullish reversal, AVAX must break above the Ichimoku cloud and see the MACD line cross above the signal line. The downtrend in the NVT ratio signals potential undervaluation, a bullish sign if accompanied by increased transaction volumes. However, current bearish signals include increased exchange netflow and declining active addresses.
Technical Indicators:
Ichimoku cloud breakout and MACD line crossing above signal line are critical.
Market Activity:
Rising transaction volumes and declining NVT ratio indicate bullish potential.
AVAX needs to overcome significant bearish indicators for a bullish reversal, focusing on key technical milestones and increased market activity.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.