Avalanche
Found support after a significant decline in the short term, according to Coindesk Research’s technical analysis model.
The token is down by 5.6% over the last 24 hours underpinning Coindesk 20 – an index of the 20 best cryptocurrencies at market value, excluding stableecoins, memcoins and exchange coins – which lost 3.2% in the same period.
Technical analysis
• Avax-USD pair fell 6.46%before staging an improvement.
• A high-volume support zone appeared around $ 20.76- $ 20.85, where strong buying interest turned downtrend.
• Price action formed a falling channel with resistance to $ 21.65, which was broken when Avax climbed over $ 21.20.
• V-shaped reversing pattern formed with a strong momentum of purchase that occurs around $ 21 psychological support level.
• Heavy accumulation occurred with trade volume exceeding 23,000 units per year. Minute.
• The $ 20.76- $ 21.00 zone can serve as a significant demand area for a short-term price action.
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.
