Avalanche, Zilliqa & Polygon — Asian Wrap 12 May

AVAX price is currently down nearly 41% for the week, which may be a blessing in disguise. Instead of traders suffering months upon months of a slow bleed, major pain has been inflicted quickly and is hopefully almost over. AVAX price has followed the same massive flash crash affecting the rest of the cryptocurrency market. However, the end of the downtrend and sell-off is likely here.


Zilliqa price is undergoing a harsh sell-off. The $0.04 support zone could induce a pullback, but the amount of strength displayed by the bears leaves room for reasonable doubt. Zilliqa price is currently undergoing a severe sell-off as the price has fallen 45% in one day. 


MATIC price is experiencing drastic bearish price action that warrants the idea of much lower targets. MATIC price has breached key support zones at $0.80 and $0.70. The Polygon network token is floating on thin ice, and the next substantial support zone lies more than 50% below at around $0.33.

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