Avalanche token after reaching a high price of $19.99
According to Coindesk Research’s technical analysis model, the $20 psychological disorder was rejected with a $20 psychological disorder, triggering accelerated sales, prompting the price to drop to $18.61. Rejection matches the peak transaction volume of 1.9 million, indicating large-scale profitability and job liquidation.
Tokens have fallen by 5.8% over the past 24 hours, while Coindesk 20 (which gets the index of the top 20 cryptocurrencies through market cap, excluding Stablecoins, Memecoins and Exchange Coins) lost 4.2%.
Technical Analysis
• Clear rejection at a psychological resistance level of $20.00.
• Peak volume (1.9 million) occurred at midnight, when the price briefly hit $18.74.
• Supports multiple tests formed in the $18.90-$19.00 area.
•The four-hour merger pattern indicates potential stability after a sharp decline.
• The reduction amount indicates a weaker interest rate for traders at the current level.
• Double-layer pattern formed around the $19.05 level.
• Increased sales pressure as quantity decreases indicates traders exhaustion.
Disclaimer: Part of this article was generated with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and compliance Our standards. For more information, see Coindesk’s complete AI policy.