The Cryptocurrency Market is experiencing significant volatility due to Israel’s strikes on Iran. Avalanche
Has been especially affected and undergo a significant 13% correction with high trading volume.
Despite the sharp decline, buyers have established strong support in the range $ 18.57- $ 18.70, with recent price actions showing signs of stabilization and potential consolidation, according to Coindesk Research’s technical analysis model.
Coindesk 20 – an index for the 20 best cryptocurrencies at market value, excluding stableecoins, Memecoins and Exchange Coins – have lost 6.2% over the past 24 hours.
Technical analysis
• Avax underwent a significant correction and dropped from $ 21.26 to a low level of $ 18.57, representing a decrease of 12.65% over the 24-hour period.
• Strong support was established around $ 18.57- $ 18.70.
• Recent price action formed an increasing channel with resistance to $ 19.52, while 24-hour trading area of $ 2.69 highlights significant volatility.
• In the last hour, Avax demonstrated recovery and climbed from $ 19.04 to $ 19.13 (0.45% gain).
• Volume analysis reveals particularly strong purchase interest, with unique volume (86,895 units) propulsion price to session heights near $ 19.26.
• The last 15 minutes established support for $ 19.06, with buyers pushing Avax back over $ 19.13.
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.
