Avalanche Treasury Shares Plummet Post-Nasdaq Debut Amid AVAX Price Decline
- Significant Stock Decline: Avalanche Treasury Co. shares have plummeted approximately 73% from their debut price of $1.85 to around $0.50 since listing on June 11, indicating market concerns regarding the company's digital asset holdings amid falling AVAX prices.
- Deteriorating Financial Condition: For the quarter ending March 31, Avalanche Treasury reported a net loss of $26.78 million, with only $1.22 million in cash and a net working capital deficit of $9.06 million, highlighting severe liquidity challenges facing the company.
- Fluctuating AVAX Holdings Value: The company holds 13.78 million AVAX with a cost basis of $265.29 million, but the fair value has dropped to $122.76 million, illustrating the significant impact of AVAX price volatility on its asset valuation.
- Liquidity Improvement Post-Merger: Following the completion of a $675 million merger with Mountain Lake Acquisition Corp., management indicated that liquidity concerns have been alleviated, projecting operational support for at least 12 months, thus addressing substantial doubt about the company's ability to continue as a going concern.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for AVAX
Technical Sentiment Analysis for Avalanche (AVAX). As of , Avalanche (AVAX) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 1 indicators are flashing buy, while 6 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for AVAX stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, AVAX is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Avalanche (AVAX) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 4.957 | 5.456 | 6.038 | 6.537 | 7.119 | 7.618 | 8.2 |
| Fibonacci | 5.456 | 5.869 | 6.124 | 6.537 | 6.95 | 7.205 | 7.618 |
About AVAX
About the author
