Global economic uncertainties and the climbing of trade tensions have sent undulations through the cryptocurrency markets, avalanche (Avx) knowing a sharp drop of 8.5% in the last 24 hours.
Despite the formation of a potential double background model in terms of support of $ 19.97 with increased purchase volume, the overall lowering feeling continues to dominate Avx prices action.
Technical analysis
• AVAX experienced a significant drop in 24 hours, from $ 21.84 to $ 20.11.
• The pronounced sale occurred when the price has increased from $ 21.49 to $ 21.01 over an exceptionally high volume (2.56 million).
• Support appeared at $ 20.00 with a substantial purchase volume (1.73 m), although the lack of significant recovery suggests that the bearish momentum remains dominant.
• AVAX has demonstrated a volatile recovery attempt of $ 20.00 in support, initially climbing $ 20.38 before selling $ 19.97.
• The subsequent price action has formed a double -back model with an increased purchase volume, allowing recovery at $ 20.13 by the end of the session.
• Consolidation between $ 19.97 and $ 20.35 suggests potential basic training, although the overall bearish moment remains intact with resistance to $ 20.35.
