- Bitcoin’s inability to surpass the $31,500 level and its low volatility are noteworthy, with the $26,000 level now serving as a critical support point.
- The daily chart for AVAX indicates that the price encountering resistance at the EMA 200 triggered a decline, but due to low volume and volatility, no formation can be determined.
- Chiliz has failed to satisfy investors and meet rally expectations, but the price needs to exceed the EMA 200 level for an increase.
The current state of Bitcoin, which failed to exceed $31,500 in July and is marked by low volatility, is of great importance, with the $26,000 level now serving as a significant support point. The fear index’s rise, similar to the low-volume periods on exchanges before the major drop, continues to concern both investors and analysts. A surge in Bitcoin could significantly affect altcoins. In this article, we will examine the charts for AVAX and Chiliz.
Analysis of AVAX Chart
The price’s encounter with resistance at the daily EMA 200 average during the rise on July 17th appears to be the first factor triggering AVAX’s price decline. AVAX, heavily affected by the market with low volume and volatility, does not show any formation on the daily chart.
Following all this, after the decline over the weekend, the daily EMA 21 level poses a serious obstacle in the price’s upward movement from the important support point of $10.01. For AVAX, we can only identify the $10.01 level as a support point for now. A potential drop scenario for AVAX, which has not fallen below this level for 2 years, could lead to serious losses. The resistance points are respectively; $10.55 / $11.08 / $11.71 and $12.98 levels. The resistance point that needs to be passed for a possible mini rally is the EMA 200 average of $15.35.
Chiliz Chart Analysis
Chiliz, which started the summer with a development that drew attention with its introduced Chiliz Layer-1 network, did not achieve the desired price performance. Chiliz, which attracted everyone’s attention with its rally during the bull season and is the fan token infrastructure provider of many world giant football clubs, has not yet made its investors happy.
In the daily chart, the price, which accumulated between $0.0705 and $0.0837 levels for almost 3 months, broke down after recent developments, leaving the rally dream to another time. In the chart where no formation can be mentioned, the support levels are $0.0635 and $0.0584. The resistance points are respectively $0.0666 / $0.0718 and $0.0837. To speak of a rally on the price side, the daily EMA 200 level of $0.1042 needs to be passed.
