Avalanche and Polkastarter prices are under bear pressure and may sell off in days ahead. As such, AVAX/USDT and POLS/USDT sellers may push prices to $23 and $2, respectively.
Polkastarter (POLS)
Polkastarter is an easy-to-use launchpad on Polkadot. Here, projects would easily access cross-token pools and auctions in a platform primed by POLS.
Past Performance for POLS
Polkastarter’s technical analysis points to weakness and sellers pressing lower.
On the last day, POLS prices are down 10 percent versus the greenback and stable against BTC and ETH.
At the same time, the average daily trading volumes stand at around $53 million.
Day-Ahead and What to Expect
POLS is changing hands at $2.73, down but within a wider $0.32 range.
In the past 24 hours, prices are within $2.63 and $3.21, in a downtrend inside a descending channel.
Technically, the upper and lower trend lines defining POLS/USDT price action.
A breakout in either direction could trigger the influx or dump of POLS.
POLS/USDT Technical Analysis
From POLS/USDT price action, every pullback towards the middle BB and $3.5 may be an unloading opportunity for sellers.
Following a break below the 20-day moving average and a distinguishing bear bar, bears are in control. The first bear target is $2.
A close above the resistance trend line may see POLS/USDT race to $5 if prices bottom up.
Avalanche (AVAX)
Avalanche is a tailored blockchain for launching DeFi services and financial assets. Its native currency is AVAX.
Past Performance of AVAX
From the daily chart, AVAX/USDT is in range mode, boxed within a $17 zone with support and resistance at $23 and $40, respectively.
At the same time, rejection of lower lows is with relatively high participation levels.
On the last day, trading volumes rose 94 percent to $730 million.
Day-Ahead and What to Expect
AVAX remains bullish. Even though there is contraction, every low above $23 may be a buying zone for bulls.
However, a clear trend would develop once AVAX/USDT prices break above or below $40 and $23.
AVAX/USDT Technical Analysis
Overly, the crypto market is dumping down.
Two consecutive bear bars representing the state of the AVAX market is enough testament. In trend continuation, sellers may unload on pullbacks if prices close below the middle BB. The first target will be at $23.
A sharp reversal, unwinding May 12 losses may be the impetus for a close above $40.
Therein, the first bull target will be $60—or February 2021 highs.
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Source: https://www.cryptoknowmics.com/news/polkastarter-pols-and-avalanche-avax-technical-analysis-what-to-expect
