Avalanche Price Slumps Amid Middle East Tensions

The global cryptocurrency market has been affected by recent developments in the Middle East, with tensions between Iran and the US leading to a decline in risk appetite.

Avalanche's price has extended its losses, trading below $9.30 on Thursday after being rejected at the key resistance zone the previous day.

Technical analysis suggests that the price is likely to face resistance from key Exponential Moving Averages (EMAs), with all three moving averages - 50-day, 100-day, and 200-day - aligning overhead as dynamic resistance.