Investors Remain Meticulous as Avalanche C-Chain Halts Block Production Again

The crypto community has been quite concerned about the sporadic stops in block production on the Avalanche C-Chain. Avalanche halted block production a few hours ago. Despite the brief duration of this, the related occurrence has been quite bothersome.

The fact that no explanation for the halt was made public makes it much more troubling. It is noteworthy that throughout the past 90 days, Avalanche’s mainnet explorer has been down for more than 48 hours. Although the incident had little effect on AVAX because it was already trending downward, investors might need to steer clear until a favorable piece of news hits the market.

Key Avalanche Levels To Watch – March 24

After the market structure turned to the downside on February 28, 2023, the bears have complete control of the market. AVAXUSD changed its direction to bearish after encountering resistance at $22.796300 and failing to make a higher high.

The Moving Average Convergence Divergence (MACD) breached the zero line to the downside on February 28, 2023. This suggested that all of the bulls had left the market. As a result of the purchasing pressure at the $14.609400 support level, the price rose quickly. Yet, the fair value gap at the $18.661110 supply zone may cause this rally to fizzle out quickly.

Avalanche Key Levels

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

Total Market Capitalization: $1.16T
Avalanche Market Capitalization: $5.58B
Avalanche Volume: $0.18B
Market Rank: #16

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