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breaking: avax holders on verge of exhaustion as price struggles to recover amidst falling wedge pattern collapse 📉 avalanche foundation’s mid-east token push adds
classic case of buyers getting REKT after chasing ATHs 📉: overbought signals + declining TVL could lead to a bearish trend
AVAX’s breakout from a falling wedge pattern is losing steam, with a recent 9% decline hinting at potential exhaustion 📉 Stochastic RSI shows signs of overbought conditions. AVAX’s price move coincides with Avalanche Foundation’s DLT initiative in the Abu Dhabi Global Market, aiming for token adoption in the Middle East 🌍 Growing adoption and buyer dominance might trigger a bullish reversal. On-chain data shows increased contract activity but a 5% drop in total locked value 📊 Next target could be near $13.
https://altcoin.observer/avax-price-recovery-depends-on-exhausted-buyers-doing-this/
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