AVAX slips to 2-week low, whilst DOT extends losses.
Avalanche fell to a two-week low on Tuesday, as the token broke out of a key support point. Prices fell below a floor at $17.50, which comes as the global cryptocurrency market cap is down by 1.01% as of writing. Polkadot also extended its recent losses, falling by nearly 3% on Feb. 28.Avalanche slipped to a multi-week low on Tuesday, as prices moved below a key support point.
This move saw avalanche hit its weakest level since February 13, which is the last time prices were under $17.00.From the chart, it appears that one of the catalysts for the drop was a breakout on the relative strength index . The next visible point of support seems to be near the 40.00 mark, and should this be hit, there is a strong chance that AVAX will move below $17.00.In addition to AVAX, polkadot also extended recent losses, falling for a second straight session.As a result of today’s drop, DOT has now fallen for seven of the last eight sessions, dropping by over 11% in that time.Like with AVAX, today’s sell-off came as the RSI broke out of a floor — in this instance the 48.00 zone.
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