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Avalanche (AVAX) in 'overbought' zone after 100% gains in a week — Correction ahead?

The AVAX/USD exchange rate plunged more than 16% after hitting a three-month high of $36.64, putting the brakes on a seven-day upside boom that saw its price rise by 111%. It appears that traders felt uneasy about entering AVAX markets near $36 because of its historical reference as a sell-off level, capping AVAX’s previous recovery attempts from March to May.

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Source: Cryptocurrency - investing.com

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