📌 CoinShares has prepared a report on crypto financial flows for the past week:

#BTC - investment outflow of $284 million.

#ETH - inflow of $30 million.

Inflows were also noted for many altcoins. The most significant ones were:

#AVAX - $0.5 million.
#ADA - $0.4 million.
#DOT - $0.3 million.

📌 KickEX Opinion:

Negative sentiments among traders continue to be fueled by news regarding cryptocurrency regulation.

For example, we can mention the statement by CFTC Chairman Rostin Benham about new sanctions against professional participants in the cryptocurrency market.

Also recently, investors received news of a possible SEC lawsuit against Robinhood for violating securities market laws, in the form of a "Wells notice" notification.

Taking into account the past year and the stories of legal proceedings by US securities market regulators against Binance, Coinbase, Kraken, the news of new cases does not instill confidence in buying cryptocurrencies.

However, on the other hand, the launch of trading in cryptocurrency investment products in Hong Kong has slightly smoothed out the negativity and has not caused quotes to plummet even further, with an inflow of around $307 million.

#Analysis #AVAX

#Avalanche is in a consolidation zone with cascading levels - 28.23; 28.55 and 28.80.

📈 Long Trade:

Entry after breaking the first cascading level - 28.23.
Stop loss - return below the 28.23 level.
Take profit - breaking the key level of 28.80.

not a trading recommendation

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