These Avalanche updates could make investors happy but AVAX may not

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These Avalanche updates could make investors happy but AVAX may not
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Avalanche’s [AVAX] Twitter handle responsible for sharing news around the ecosystem, posted a tweet on 6 November sharing its weekly subnet report. The report shared by AVAX Daily spilled some noteworthy updates that were witnessed by the blockchain. According to the tweet, Avalanche’s total subnets stood at 36, and its total validators were at 1,219. […]

’s popularity also seemed to have been affected. Its social volume and weighted sentiments registered downticks over the past week.Though the metrics were against the possibility of a price hike, AVAX’s market indicators provided some relief. The Exponential Moving Average Ribbon displayed a bullish crossover as the 20-day EMA flipped the 55-day EMA. This increased the chances of a fresh bull run.

The Relative Strength Index , after declining, marked a slight uptick and headed further away from the neutral mark. This could be considered as a bullish signal. Moreover, though’s Chaikin Money Flow was resting way below the neutral mark, it registered an uptick lately. Thus, increasing the possibility of a trend reversal.

Nonetheless, the Moving Average Convergence Divergence ’s reading showed that things may turn in favor of the bears. This was because the possibility of a bearish crossover seemed plausible in the days to come.Subscribe to get it daily in your inbox.

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