The cryptocurrency market is experiencing significant volatility due to Israel’s strikes on Iran. Avalanche
was particularly affected, undergoing a substantial correction of 13% with a high volume of trading.
Despite the sharp drop, buyers have established solid support in the range of $ 18.57 to $ 18.70, with recent prices action showing signs of stabilization and potential consolidation, 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 – lost 6.2% in the last 24 hours.
Technical analysis
• AVAX underwent a significant correction, from $ 21.26 to a lower $ 18.57, representing a drop of 12.65% over the period 24 hours a day.
• Solid support was established about $ 18.57 at $ 18.70.
• The action of recent prices has formed an ascending channel with resistance at $ 19.52, while the 24 -hour negotiation range of $ 2.69 highlights substantial volatility.
• During the last hour, AVAX demonstrated recovery, from $ 19.04 to $ 19.13 (gain of 0.45%).
• The volume analysis reveals a particularly strong purchase interest, with an exceptional volume (86,895 units) propelling the price to session peaks close to $ 19.26.
• The last 15 minutes have supported support at $ 19.06, buyers pushing AVAX over $ 19.13.
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