AVAX Sheds 50% Over The Last 60 Days – More Losses Ahead?

AVAX, the native token of Avalanche blockchain network, has now lost almost 90% of its November 21, 2021 all-time high price of $144.96. AVAX was severely affected by buying pressure over the last two months The altcoin declined by almost half over the last 60 days Resistance range targeted by AVAX is between $18.3 and $18.5 According to tracking from Coingecko, at press time, the cryptocurrency is trading at $15.07 and is seeing red in every zone of its price monitoring chart. In its intraday performance, the altcoin is down by 1.3% and has declined by 3.9% over the last seven days. AVAX has also decreased by 11.7% for the past 14 days and nearly half in the last two months. While there appears to be a breakout rally for the digital coin, there’s also the possibility that its price will once again plummet. It will all depend on how well the digital asset will handle a crucial resistance point that will determine whether it will go up or down over the next few days. Related Reading: Uniswap Coin’s Bullish Trajectory Sets UNI To Breach $7 Level – Time To Buy? AVAX Tries To Recuperate From Fall In just two months, Avalanche’s native token experienced a steep fall, declining by 49% as the asset was pummeled by excessive buying pressure. Source: TradingView AVAX showed extreme volatility for the past two days that resulted into the formation of a falling wedge pattern on its trading chart. Given that, the crypto must close above t...