’s favor throughout the week, things might take a U-turn soon, as suggested by a few market indicators. CryptoQuant’s data revealed that AVAX’s Relative Strength Index was in an overbought position, which is a major bearish signal.
The Money Flow Index also followed the RSI and was resting in the overbought zone. AVAX’s Chaikin Money Flow registered a downtick and was headed toward the neutral mark. Moreover, the MACD displayed the possibility of a bearish crossover soon, further suggesting a price decline in the coming days. Nonetheless, the Exponential Moving Average Ribbon was still bullish as the 20-day EMA was above the 55-day EMA.Subscribe to get it daily in your inbox.
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