Avalanche
found support after a substantial decrease in the short term, according to the technical analysis model of Coindesk Research.
The token is down 5.6% in the last 24 hours, underperforming the Coindesk 20 – an index of the first 20 cryptocurrencies by market capitalization, excluding staboins, the same and exchange parts – which lost 3.2% in the same period.
Technical analysis
• The Avx-USD pair decreased by 6.46% before staging a recovery.
• A high volume support area emerged around $ 20.76 to $ 20.85, where solid purchasing interests reversed the downward trend.
• Price action formed a downhill channel with resistance at $ 21.65, which was broken when Avx exceeded $ 21.20.
• V inversion model formed with a strong purchase dynamic emerging around the level of psychological support of $ 21.
• Strong accumulation has occurred, a volume of trading exceeding 23,000 units per minute.
• Zone from $ 20.76 to $ 21.00 can be used as a major demand area for short -term action.
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