Avax of the avalanche
The token continues to demonstrate significant volatility as it weakens after its recent gathering.
After initially increased by $ 20.72% to $ 20.71 to $ 21.48, AVAX experienced a net reversal, falling to $ 20.25 and establishing a critical support area between $ 20.25 and $ 20.30, according to the Technical Analysis model of Coindesk Research.
The technical indicators suggest that the level of $ 20.62 to $ 20.63 is becoming a crucial floor for short -term prices, with accumulation interests appearing at these levels.
Meanwhile, the Coindesk 20 – an index of the 20 best cryptocurrencies by market capitalization, excluding stablescoins, the same and exchange parts – is up 1.1% in the last 24 hours.
Technical analysis
• AVAX formed a clear resistance area around $ 21.40 at $ 21.50 with high volume sales pressure.
• The support developed in the range of $ 20.25 at $ 20.30, with a significant volume peak.
• Price action has formed a descending channel.
• A temporary support formed at $ 20.62, with subsequent accumulation leading to recovery.
• The low time has coincided with the 24 -hour support area, which suggests that $ 20.62 at $ 20.63 can be used as a critical floor.
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