$AVA was one of yesterday’s top-performing coins, but it’s already noticeably underperforming the broader market. Before buying this pullback, you first have to acknowledge that you’re betting on it regaining strength. Yesterday’s rally can no longer justify the purchase.
From early morning to the afternoon of October 20 Beijing time, AVA fell from around $0.428 to near $0.386, dropping roughly 10%. The decline lasted for several hours; it wasn’t just a single sudden wick.
Over the same period, $BTC traded mostly sideways while AVA continued to slide. So I’m more inclined to see this as AVA’s own rally losing steam, rather than simply blaming weakness in the broader market.
My conclusion: AVA should be reassessed as a weak coin for now. Yesterday’s eye-catching gains explain why it caught your attention, but they’re no longer enough to justify buying today.
From early morning to the afternoon of October 20 Beijing time, AVA fell from around $0.428 to near $0.386, dropping roughly 10%. The decline lasted for several hours; it wasn’t just a single sudden wick.
Over the same period, $BTC traded mostly sideways while AVA continued to slide. So I’m more inclined to see this as AVA’s own rally losing steam, rather than simply blaming weakness in the broader market.
My conclusion: AVA should be reassessed as a weak coin for now. Yesterday’s eye-catching gains explain why it caught your attention, but they’re no longer enough to justify buying today.