Avax, which ranks 16th behind the leading cryptocurrency Bitcoin, continues to move with Bitcoin like all other altcoins. Avalanche, which experienced an increase of close to 10% two days ago, accompanied the sale in Bitcoin yesterday. Avalanche started the day at the $ 19.94 level yesterday and closed at $ 18.59, decreasing by 6.77%.
At the time of writing, Avax is trading at $19.03, with a daily increase of 2.37%.
![Avax Technical Analysis: Hard Exam in 200-Day Average 8 Avax Technical Analysis: Hard Exam in 200-Day Average = The Bit Journal](https://thebitjournal.b-cdn.net/wp-content/uploads/2023/02/avax-tetherus.jpg)
Avax Chart Analysis
Avalanche, which retreated to the EMA55 support point with the selling pressure in Bitcoin a few days ago, tested the EMA200 level of $ 20.23 yesterday with the hard buys experienced later. Unable to stay above this resistance value, Avalanche faced hard selling from this point. In Avax, which is experiencing a pullback, the daily $19.98 and $20.23 levels of EMA200 can be followed as the first resistance points, while the levels of $18.80, which is EMA5, and $18.76, which is EMA21, can be observed as the first support points.
![Avax Technical Analysis: Hard Exam in 200-Day Average 9 Avax Chart Analysis](https://thebitjournal.b-cdn.net/wp-content/uploads/2023/02/avax-technical-analysis-hard-exam-in-200-day-average-1024x731.jpg)
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