Avalanche
Bread under critical $ 17.45 support level in the middle of accelerated sales pressure fell 3.4% over 24 hours, according to Coindesk Research’s technical analysis model.
The move underpinned Coindesk 20 – an index of the top 20 cryptocurrencies at market value, excluding stableecoins, memcoins and exchange coins – which have fallen 1.6% in the same period.
Technical analysis
• Avax experienced a significant downturn over the past 24 hours and fell from $ 17.82 to $ 17.21, which represents a fall of 3.4% with a total range of $ 0.85 (4.76%).
• Price action formed a short “double top” pattern near $ 18.02, with the subsequent rejection that led to accelerated sales on volume above average.
• Volume was spiked to 710,723 units, indicating that a potentially strong bearish conviction as key support for $ 17.45 was broken.
• Avax fell from $ 17.33 to a low level of $ 17.02 (-1.79%) Before staging an improvement to close at $ 17.25.
• A V-shaped pattern formed with an intensive sales pressure when the volume was spiked to 33,423 units as the price broke below $ 17.20 support level.
• Buyers stepped in and pushed Avax back over the level $ 17.20 with increasing volume, suggesting potential short -term stabilization.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance with Our standards. For more information, see Coindesk’s full AI policy.
