Can Avalanche (AVAX), which turned its course down due to the chaos in Bitcoin (BTC), start rising again?

Since $71,300, it has been moving downwards. BTChas devastated the altcoin market. Many projects, especially major coins, sold off one after another. One of the most important names of major coins Avalanche (AVAX) sagged below $ 50, giving danger signals. Which levels are important to follow for AVAX, which has a large investor base in the Turkish crypto ecosystem?

Avalanche (AVAX) is risky as long as it stays below $50!

AVAX, which is below a very important level both psychologically and technically, may face bigger sales if it cannot jump above $ 50. The popular coin, which remains in the background compared to its biggest rival Solana, has not yet signaled a recovery. The levels that may serve as support for Avalanche, which is $ 47.07 as of the writing of the news, are $ 43.64 – 38.53 – 33.25 and $ 27.35 respectively.

If the demand for the Avalanche ecosystem increases, BTC exceeds $70,000 or BTC dominance falls, the outlook for AVAX will turn positive. In such a scenario, rallies towards $49.70 – $55.15 – $59.42 – $65.51 and $75.48 could follow respectively. A weekly close above the recent peak of $65.51 would accelerate the bull run in AVAX.

In addition, Solana could be decisive for the AVAX price. Solana, who has almost always been at the forefront of this long-standing rivalry, could gradually push the AVAX price up if he goes on the offensive.