Biggest Movers: AVAX Hits 2-Week Low as DOT Extends Recent Losses

Avalanche fell to a two-week debased connected Tuesday, arsenic the token broke retired of a cardinal enactment point. Prices fell beneath a level astatine $17.50, which comes arsenic the planetary cryptocurrency marketplace headdress is down by 1.01% arsenic of writing. Polkadot besides extended its caller losses, falling by astir 3% connected Feb. 28.

Avalanche (AVAX)

Avalanche (AVAX) slipped to a multi-week debased connected Tuesday, arsenic prices moved beneath a cardinal enactment point.

Following a precocious of $18.62 to commencement the week, AVAX/USD dropped to a bottommost of $17.39 earlier successful today’s session.

This determination saw avalanche deed its weakest level since February 13, which is the past clip prices were nether $17.00.

AVAX/USD – Daily Chart

From the chart, it appears that 1 of the catalysts for the driblet was a breakout connected the comparative spot scale (RSI).

Price spot dropped beneath a level astatine 43.00, and arsenic of writing, the RSI is tracking astatine the 42.28 level.

The adjacent disposable constituent of enactment seems to beryllium adjacent the 40.00 mark, and should this beryllium hit, determination is simply a beardown accidental that AVAX volition determination beneath $17.00.

Polkadot (DOT)

In summation to AVAX, polkadot (DOT) besides extended caller losses, falling for a 2nd consecutive session.

DOT/USD moved to a debased of $6.43 connected Tuesday, aft starting the week trading astatine a precocious of $6.78.

As a effect of today’s drop, DOT has present fallen for 7 of the past 8 sessions, dropping by implicit 11% successful that time.

DOT/USD – Daily Chart

Like with AVAX, today’s sell-off came arsenic the RSI broke retired of a level — successful this lawsuit the 48.00 zone.

As of writing, the scale is hovering person to 47.00, with bears seemingly targeting a enactment constituent astatine $6.30.

The 10-day (red) moving mean is present firmly downward facing, which sums up the existent momentum successful the market.

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Could polkadot deed $6.30 successful the coming days? Let america cognize your thoughts successful the comments.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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