{"id":509559,"date":"2022-11-21T15:30:44","date_gmt":"2022-11-21T15:30:44","guid":{"rendered":"https:\/\/wncen.com\/?p=509559"},"modified":"2022-11-21T14:17:51","modified_gmt":"2022-11-21T14:17:51","slug":"avalanche-tvl-hits-271-million-avax-following-weeks-of-setbacks","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/avalanche-tvl-hits-271-million-avax-following-weeks-of-setbacks\/","title":{"rendered":"Avalanche TVL Hits 271 Million AVAX, Following Weeks Of Setbacks"},"content":{"rendered":"

Some cryptocurrencies, including Avalanche (AVAX), saw modest gains even as the overall market suffered from a prolonged downturn.<\/p>\n

To date, AVAX TVL<\/a> has gone up from 120.11 million to 123.7 million, an increase of approximately 3% as of press time. AVAX Daily, a Twitter account that monitors the Avalanche protocol, also posted this.<\/p>\n

An increase of 270,611,568 AVAX was reported in the latest update for TVL. The same was also supported by a chart created by DeFiLlama (chart below).<\/p>\n

It’s good that AVAX is making progress, but is it safe from external market factors that could set it back even further?<\/p>\n

Related Reading: MATIC Backpedals Into Bearish Track Despite Its Social Dominance<\/a><\/div>\n

Good News And Not So Good News<\/strong><\/h2>\n

Since Binance’s funding rates increased, the AVAX futures market<\/a> has been seeing a positive trend. The relative strength index (RSI) and the stochastic relative strength index (Stoch RSI) values that CryptoQuant has been using indicate that AVAX is currently oversold.<\/p>\n

Investors and traders want to see these kinds of signs since they’re positive. However, there is always a dark side to every day, and no matter how bright the day may have begun, it will inevitably end in darkness.<\/p>\n

\"\"<\/p>\n

The Relative Strength Index (RSI) and the Stochastic Relative Strength Index (Stoch RSI) may be misleading investors and traders into buying AVAX too soon in hopes of a quick profit.<\/p>\n

The Bollinger band is currently exhibiting significant volatility. The current position of AVAX’s price on the lower half of the BB indicator may portend future price declines.<\/p>\n

At -0.17, Chaikin’s money flow indicator likewise demonstrates significant bearishness. This demonstrates that bears have total market control. At -87.56, the commodities channel index demonstrates strong bearishness.<\/p>\n

Strong correlations exist with the struggling crypto market leaders. At 0.99 for Bitcoin and 0.98 for Ethereum, additional price declines in both cryptocurrencies could have disastrous effects on AVAX.<\/p>\n

\n

Avalanche Subnet Weekly Stats<\/p>\n

Total Subnets: 29
\nTotal Blockchains: 21
\nTotal Validators: 1305
\nTotal Stake Amount: 270,611,568 AVAX<\/p>\n

Overview\ud83e\uddf5\ud83d\udc47#AVAX<\/a> #Avalanche<\/a> $AVAX<\/a> pic.twitter.com\/QlkILEhLCt<\/a><\/p>\n

\u2014 AVAX Daily \ud83d\udd3a (@AVAXDaily) November 18, 2022<\/a><\/p><\/blockquote>\n

Keeping Track Of Price Movements<\/strong><\/h2>\n

AVAX investors and traders can anticipate further weakness in the AVAX market in light of the aforementioned factors and the market’s already robust downward trend.<\/p>\n

The price movement of BTC and ETH may also influence the price movement of AVAX, thus investors and traders should keep a close eye on them.<\/p>\n

Assuming Bitcoin and Ethereum will continue to decline, a short position against the bear market is tempting at the current market price.<\/p>\n

But if the RSI trend reversal materializes, the $14 level will be an immediate target for bulls. Anything higher than that could result in a crunch zone in the Bollinger band, which could push the price down.<\/p>\n

Related Reading: Polkadot Snags No. 1 Spot In Dev\u2019t Activity This Month \u2013 Time To Go Long On DOT?<\/a><\/div>\n

<\/p>\n

AVAX total market cap at $3.6 billion on the weekend chart | Featured image from The Daily Hodl, Chart: TradingView.com<\/a><\/pre>\n","protected":false},"excerpt":{"rendered":"
Some cryptocurrencies, including Avalanche (AVAX), saw modest gains even as the overall market suffered from a prolonged downturn. To date, AVAX TVL has gone up from 120.11 million to 123.7 million, an increase of approximately 3% as of press time. AVAX Daily, a Twitter account that monitors the Avalanche protocol, also posted this. An increase of 270,611,568 AVAX was reported in the latest update for TVL. The same was also supported by a chart created by DeFiLlama (chart below). It’s good that AVAX is making progress, but is it safe from external market factors that could set it back even further? Related Reading: MATIC Backpedals Into Bearish Track Despite Its Social Dominance Good News And Not So Good News Since Binance’s funding rates increased, the AVAX futures market has been seeing a positive trend. The relative strength index (RSI) and the stochastic relative strength index (Stoch RSI) values that CryptoQuant has been using indicate that AVAX is currently oversold. Investors and traders want to see these kinds of signs since they’re positive. However, there is always a dark side to every day, and no matter how bright the day may have begun, it will inevitably end in darkness. The Relative Strength Index (RSI) and the Stochastic Relative Strength Index (Stoch RSI) may be misleading investors and traders into buying AVAX too soon in hopes of a quick profit. The Bollinger band is currently exhibiting significant volatility. The current position of AVAX’s price on the lower half of the BB indicator may portend future price declines. At -0.17, Chaikin’s money flow indicator likewise demonstrates significant bearishness. This demonstrates that bears have total market control. At -87.56, the commodities channel index demonstrates strong bearishness. Strong correlations exist with the struggling crypto market leaders. At 0.99 for Bitcoin and 0.98 for Ethereum, additional price declines in both cryptocurrencies could have disastrous effects on AVAX. Avalanche Subnet Weekly Stats Total Subnets: 29 Total Blockchains: 21 Total Validators: 1305 Total Stake Amount: 270,611,568 AVAX Overview\ud83e\uddf5\ud83d\udc47#AVAX #Avalanche $AVAX pic.twitter.com\/QlkILEhLCt \u2014 AVAX Daily \ud83d\udd3a (@AVAXDaily) November 18, 2022 Keeping Track Of Price Movements AVAX investors and traders can anticipate further weakness in the AVAX market in light of the aforementioned factors and the market’s already robust downward trend. The price movement of BTC and ETH may also influence the price movement of AVAX, thus investors and traders should keep a close eye on them. Assuming Bitcoin and Ethereum will continue to decline, a short position against the bear market is tempting at the current market price. But if the RSI trend reversal materializes, the $14 level will be an immediate target for bulls. Anything higher than that could result in a crunch zone in the Bollinger band, which could push the price down. Related Reading: Polkadot Snags No. 1 Spot In Dev\u2019t Activity This Month \u2013 Time To Go Long On DOT? AVAX total market cap at $3.6 billion on the weekend chart | Featured image from The Daily Hodl, Chart: TradingView.com<\/p>\n","protected":false},"author":557,"featured_media":500192,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[9885,83347,14690,1557,4078],"class_list":["post-509559","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-avalanche","tag-avax","tag-crypto-news","tag-cryptocurrencies","tag-technical-analysis"],"acf":[],"yoast_head":"\nAvalanche TVL Hits 271 Million AVAX, After Weeks Of Setbacks<\/title>\n<meta name=\"description\" content=\"Some cryptocurrencies, including Avalanche (AVAX), saw modest gains even as the overall market suffered from a prolonged downturn.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Avalanche TVL Hits 271 Million AVAX, Following Weeks Of Setbacks","url":"http:\/\/wncen.com\/news\/avalanche-tvl-hits-271-million-avax-following-weeks-of-setbacks\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/avalanche-tvl-hits-271-million-avax-following-weeks-of-setbacks\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/Avalanche-2.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/Avalanche-2.png?fit=772%2C387"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["avalanche","avax","crypto news","cryptocurrencies","technical analysis"],"dateCreated":"2022-11-21T15:30:44Z","datePublished":"2022-11-21T15:30:44Z","dateModified":"2022-11-21T15:30:44Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Avalanche TVL Hits 271 Million AVAX, Following Weeks Of Setbacks\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/avalanche-tvl-hits-271-million-avax-following-weeks-of-setbacks\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/avalanche-tvl-hits-271-million-avax-following-weeks-of-setbacks\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/08\\\/Avalanche-2.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/08\\\/Avalanche-2.png?fit=772%2C387\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"avalanche\",\"avax\",\"crypto news\",\"cryptocurrencies\",\"technical analysis\"],\"dateCreated\":\"2022-11-21T15:30:44Z\",\"datePublished\":\"2022-11-21T15:30:44Z\",\"dateModified\":\"2022-11-21T15:30:44Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/08\/Avalanche-2.png?fit=772%2C387","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/509559","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=509559"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/509559\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/500192"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=509559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=509559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=509559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}