- On Monday, Avalanche (AVAX) price plunged by approximately 3% on a daily chart, forcing its value to plunge from $9.46 to $9.18 with a market capitalization of around $3.96 billion.
- The drops come amid the heavy selling pressure in the DeFi sector due to unfortunate events and a correction in Bitcoin (BTC) price as it slips below $77,000.
- The price is falling towards a major resistance level at around $9.0, and if it falls below this level, it could open doors toward $8.50.
On April 27, the Avalanche (AVAX) price experienced a drop of around 3% on a daily chart following catastrophic events in the DeFi sector and selling pressure on the cryptocurrency.
Avalanche (AVAX) Price Revolves Around $9 Support Level
On Monday, the overall cryptocurrency market faced a correction after Bitcoin (BTC) slipped below $77,000 following a crash in leveraged derivatives positions. According to Coinglass, Bitcoin liquidation surged to $429.10 million. , incl...
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