Avalanche Crashes Further as the Network Faces a Second Outage

Investors have been very concerned as a result of the sudden network disruption experienced by Avalanche. Given that this is the second outage in five days, there has been a great deal of confusion as UpBit temporarily halted all AVAX transactions. UpBit is a major crypto exchange in South Korea.

Just a few days ago, the C-Chain stopped producing blocks, causing the first outage. AVAX’s pricing has been correspondingly dropping ever since the first downtime occurred. AVAX is currently worth $16.46 on CoinMarketCap, a decrease of more than 5% from last week.

Key Avalanche Levels To Watch – March 28

Following the market structure shift to the downside last month, the price experienced a short-term rally into a rejection block. The rejection block caused prices to decline exuberantly, thereby leading to a break in the market structure. According to the Moving Average, the overall trend of AVAXUSD is bearish.

Recently, the price retested the $18.661110 price level, which eventually caused the resumption of the downward trend. AVAXUSD is likely to continue crashing downward until the liquidity void created in January 2023 is filled.

Avalanche Key Levels

Resistance Levels: $30.867700, $22.796300, $18.661110
Support Levels: $14.609400, $12.946240 $10.577300

Total Market Capitalization: $1.13T
Avalanche Market Capitalization: $5.35B
Avalanche Volume: $0.14B
Market Rank: #16

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