After reaching a summit of $ 19.99, the avalanche token
Was strongly rejected at the $ 20 psychological barrier, triggering an accelerated sale which lowered prices to $ 18.61, according to the Technical Analysis model of Coindesk Research. Rejection coincided with a 1.9 million cutting -edge negotiation volume, which suggests large -scale and position liquidations.
The token is down 5.8% in the last 24 hours, while the Coindesk 20 – index of the first 20 cryptocurrencies by market capitalization, excluding stablescoins, the same and exchange parts – lost 4.2%.
Technical analysis
• Clear rejection at the level of psychological resistance of $ 20.00.
• The peak negotiation volume (1.9 m) occurred at midnight when the price briefly affected $ 18.74.
• The support was formed in the area from $ 18.90 to $ 19.00 with several tests.
• The four -hour consolidation model suggests potential stabilization after the sharp decline.
• The decrease in volumes indicates the decline in the interests of traffic at current levels.
• Double top model formed around the level of $ 19.05.
• The increase in sales pressure with decreased volumes suggests exhaustion of traders.
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