Sideway movements in the market indicate a struggle in price patterns in the industry.
Avalanche (AVA) and VeChain (VET) are two notable coins affected by such phenomena in the market, losing their ground to the latest rising crypto The Hideaways (HDWY).
Avalanche (AVAX) Bulls Cautions Of Decline Despite Rising TVL
Avalanche (AVAX) is one of the top crypto coins in the market in terms of total value locked (TVL). However, news from the platform might change the course of the coin as on-chain metrics are projecting a trend reversal despite a prosperous green zone in the market.
Despite making it in the list of the TVL dashboard, data from DeFiLlama states that Avalanche’s (AVAX) TVL had been on a constant decrease for the past weeks now.
Due to various downs, the token failed to acquire interest from its derivatives market as both its Binance and FTX funding rates recorded declines over the previous days.
The platform is also facing another problem as some of its investors are looking to invest in a more stable and secure token such as The Hideaways (HDWY).
VeChain (VET) Troubled By Shaky Movements Caused By Price Rejection
The data analysis of Vechain (VET) states that the price analysis of the coin is turning left to right over the last few days, causing disturbances in various investor portfolios.
Because of the trading activities above the crucial support level of $0.02412, a minor bullish bias has been detected as the activities occurring below $0.02474 are being rejected.
As of press time, VeChain (VET) trading price is at $0.02491, declining 0.5% in the last 24 hours. The Hideaways (HDWY) on the other starting to shake the market world as it showed a remarkable presale performance.
The low breakout of the crypto market’s trading activities caused the fake breakout out and decline once more.
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