At 00:35 GMT AVAX made its all-time high. Briefly breaking the $80 ceiling, at $80.56.
Prices have trended downwards since. Pulling back to the high 70s. Forming a double-top with the previous day’s high.
Volume has fallen since the apex of the high. More sellers appeared at the high than buyers.
Bearish divergences emerging too. Which could signal the end of the very short-term bull trend. Though, things fundamentally remain bullish for the ecosystem. Long-term, we’re all bullish.
Grayscale’s entry into the ecosystem will nevertheless draw more money into the space. Hopefully bolstering AVAX’s market cap. Putting in some harder floors.