Avalanche’s Avax rose 8.2% to 24 hours, climbing from $ 16.29 to $ 18.50, which established strong support to $ 18.03, but faced a resistance to $ 18.47- $ 18.50 zone, according to the CoinDesk Review technical review model.
CoinDesk 20 – an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins and exchange coins – rose 6.3% over the same period of time.
Technical analysis
• Price action has generated a clear support with higher lows establishing support of $ 18.03, while significant volume spikes to $ 17.40 and $ 18.07 levels confirmed the strong consumer interest.
• A well-known resistance zone appeared around $ 18.47- $ 18.50, in which income acquisition occurred after the initial advancement, even if the property maintains most of its gains and appears to have prepared for further reversal if it can be damaged at this level with a prolonged volume.
• In the last 60 minutes, Avax showed noticeable volatility with a clear downtrend, falling from $ 18.24 to $ 18.19, representing a 0.28% decline.
• The owner has experienced significant price swings, reaching a high $ 18.64 before finding a strong sale pressure that drives prices up to $ 18.14.
• A brief recovery attempt formed along with three consecutive green candles, but this rally failed to resist, confirming the bearish sentiment that ruled the last part of the session.
Denial: Parts of this article were formed with assistance from AI tools and our editorial team reviewed to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s entire AI policy.
