Avalanche’s Avax has risen 8.2% in 24 hours and climbs from $ 16.29 to $ 18.50 and establishes strong support for $ 18.03, but faced opposition to $ 18.47- $ 18.50 zone, according to Coindesk Research’s technical analysis model.
Coindesk 20 – an index for the 20 best cryptocurrencies at market value, excluding stableecoins, memcoins and exchange coins – has increased 6.3% during the same period.
Technical analysis
• Price action formed a clear increase with higher low low establishment of $ 18.03 support, while significant volume tips at $ 17.40 and $ 18.07 levels confirmed a strong buyer interest.
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• In the last 60 minutes, Avax showed remarkable volatility with a clear downturn that fell from $ 18.24 to $ 18.19, representing a fall of 0.28%.
• The asset experienced significant price fluctuations and reached a high of $ 18.64 before encountering a strong sales pressure that drove prices down to $ 18.14.
• A short recovery attempt formed with three consecutive green candles, but this rally failed by resistance, confirming the bearish mood that has dominated the last part of the session.
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