- AVAX has underperformed most of its competitors in terms of YTD return on interest
- Sentiment and social volume around Avalanche fell as prices surged
Avalanche [AVAX] has had an extremely difficult time since the beginning of the year, compared to other altcoins in the market. In fact, according to recent data, AVAX has fallen by 21.52% YTD, causing massive losses to its holders.
来源：吴区块链
How is AVAX doing?
At press time, AVAX was trading at $33.99. Since the beginning of April, however, the price of AVAX has consistently declined. On the charts, it hit multiple lower lows and lower highs during this period – A sign that AVAX has been tracing a bearish trend. Additionally, the RSI (Relative Strength Index) for AVAX fell too.
What this means is that bullish momentum around Avalanche fell significantly over the last few days. Additionally, the CMF (Chaikin Money Flow) followed the RSI south – A sign that more money is flowing out of AVAX’s market than the volumes coming in.
Simply put, it would take a huge amount of bullish interest for AVAX to see hike once again. To break its prevailing bearish trend, it would need to push past the $50.78-price level on the charts.
来源：交易视图
AVAX’s performance on social media platforms will also play a great role in dictating its price movement. Over the last few days, the social volume around AVAX has remained consistent. However, weighted sentiment around AVAX also fell materially during this period. This means that negative comments around AVAX outnumbered the positive ones, at the time of writing.
If AVAX doesn’t regain the favor of users on social media, the price of AVAX could fall even further in the future.