VeChain, Avax & Polygon — Asian Wrap 17 Nov

VeChain price on the weekly chart shows strong defense near the $0.13 value area. Many support levels exist near $0.13, and that level must hold to prevent any future sell-off. VeChain price experienced a significant drop during the Tuesday trade session following strong selling across the entire cryptocurrency market.

AVAX price opened the week very strong with a new all-time high and after hitting the much sought-after $100 price level. Since hitting those two milestones, however, AVAX has plummeted more than 16% from the new high. Unfortunately for bulls, prices look like they will continue moving south.

 

Polygon (MATIC) price failed to push above the monthly pivot at $1.80,dropped and has since bounced off the 55-day Simple Moving Average (SMA) at 1.55. With supportive tailwinds fading and the ambience bearish, expect a break to the downside – although bulls will eventually be waiting for the right moment to pick up MATIC price action at an attractive discount.


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