Avalanche
It struggles to maintain short -term momentum, with trading patterns showing a downward channel formation despite attempts to stabilize the peripheral support levels, according to the technical research technical evaluation model.
The token dropped 1.4% in the last 24 hours to $ 18.43 while CoinDesk 20 – an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins and exchange coins – just lost 0.5%.
The recent high pressure seller suggests continuous discipline in the short term, even when strong purchases have emerged in previous dips.
Technical analysis
• Avax has experienced significant price volatility over the past 24 hours, establishing a range of 0.84 (4.5%) between a high $ 18.93 and less than $ 18.09.
• The asset found strong support in the $ 18.15- $ 18.25 zone, while faced with resistance near $ 18.85- $ 18.90.
• Price action is generated by a downward channel, with a recent high pressure seller suggesting a bearish sentimental sentiment despite attempts to stabilize the level of $ 18.40.
• Avax experienced a V-shaped recovery, slipping from $ 18.35 to low $ 18.09 with a high volume (52,056 units) before rebelled at $ 18.40.
• Recovery gained significant momentum when the price exploded by resistance to $ 18.27 in volume exceeding 67,000 units, establishing a new zone support around $ 18.33- $ 18.35.
• UPTEND ends at three consecutive zero-volume minutes suggesting potential integration before the next price movement.
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.
