AVAX and MATIC have both been experiencing a bearish market trend, with the prices of AVAX/USDT and MATIC/USDT falling. However, key indicators suggest that the bear market may not be over yet.
For AVAX, the Relative Strength Index (RSI) is at 44.55, indicating that it remains within the lower bound and could be highly bullish. The MACD indicator confirms the bearish trend, with the MACD line moving downwards and crossing the signal line. Volume has remained relatively constant, suggesting lesser activity when the price falls.
The price action of AVAX has been flat, with a focus on the range of lows experienced in May through June. While indicators confirm the bearish trend, the RSI is right on the edge of the oversold zone, which may attract buyers.
As for MATIC, it has formed lower highs and lower lows in recent price action, indicating a strong bearish market. The price has fallen from an average of $0.70 at the beginning of the year to $0.40. Candlesticks also show further selling efforts, with the price closing down at the end of most trading days. Although trading activity has slowed, the volume performance during active phases supports the downtrend.
The indicators for MATIC also point towards a downtrend. The RSI is at 39.16, fairly distant from the neutral level of 50, indicating that the asset is approaching oversold territory. The MACD line is lower than the signal line and both are negative, further encouraging the bear movement.
Overall, the key indicators suggest that both AVAX and MATIC may continue experiencing a bearish market trend, at least until buyers support the market and the indicators show signs of reversal.