Avalanche
Struggled to maintain short-term momentum, with trading patterns showing a falling channel formation despite attempts to stabilize around key support levels, according to Coindesk Research Technical Analysis model.
The token has dropped 1.4% in the last 24 hours to $ 18.43, while Coindesk 20 – an index over the top 20 cryptocurrencies at market value, excluding stableecoins, memcoins and exchange coins – lost only 0.5%.
The latest high -volume sales pressure still suggests the Bearish atmosphere in the short term, although strong purchase emerged under recent dips.
Technical analysis
• Avax experienced significant award volatility over the last 24 hours and established a range of 0.84 (4.5%) between the high of $ 18.93 and low at $ 18.09.
• The asset found strong support for $ 18.15- $ 18.25 zone while turning against resistance near $ 18.85- $ 18.90.
• Price action formed a falling channel, with recent high-volume sales pressure, which suggests continued Bearish atmosphere despite attempts to stabilize around the $ 18.40 level.
• Avax experienced a V-shaped recovery and slipped from $ 18.35 to a low level of $ 18.09 with unusually high volume (52,056 units) before rebuining to $ 18.40.
• Restore gained a significant momentum as the price broke through resistance at $ 18.27 on volume over 67,000 units, establishing a new support zone around $ 18.33- $ 18.35.
• The unpainted culminated with three consecutive zero-volume minutes that suggest potential consolidation before the next price movement.
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.
