Avax of avalanche jumped 8.2% in 24 hours, from $ 16.29 to $ 18.50, establishing solid support at $ 18.03, but faced with resistance in the area from $ 18.47 to $ 18.50, according to the Technical Analysis of Coindesk Research.
The Coindesk 20 – An index of the first 20 cryptocurrencies by market capitalization, excluding stablescoins, the same and exchange parts – increased by 6.3% during the same period.
Technical analysis
• Price action was a clear rise in higher trend with higher stockings establishing support at $ 18.03, while large volumes peaks at levels of $ 17.40 and $ 18.07 confirmed a strong interest in buyers.
• A notable resistance zone emerged around $ 18.47 to $ 18.50, where profit taking after the initial overvoltage, although the asset has maintained most of its earnings and seems to be obvious for more increase if it can perceive this level with a sustained volume.
• In the last 60 minutes, AVAX has presented significant volatility with a clear decrease trend, from $ 18.24 to $ 18.19, representing a drop of 0.28%.
• The assets experienced significant price oscillations, reaching a summit of $ 18.64 before undergoing high sales pressure which lowered prices to $ 18.14.
• A brief recovery attempt was formed with three consecutive green candles, but this gathering failed the resistance, confirming the bearish feeling that dominated the last part of the session.
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