avalanche avax
Due to its recent rally, the token continues to show significant volatility.
After initially rising 3.72% from $20.71 to $21.48, Avax experienced a sharp reversal, falling to $20.25 and establishing a key support zone between $20.25 and $20.30, according to Coindesk Research’s technical analysis model.
Technical indicators show that the $20.62-$20.63 level is becoming a key level of recent price action, where cumulative interest appears.
Meanwhile, Coindesk 20 (via market cap through the top 20 cryptocurrency index that excludes Stablecoins, Memecoins and Exchange Coins) has grown 1.1% in the past 24 hours.
Technical Analysis
•Avax creates a clear resistance zone around $21.40-$21.50 and has a lot of sales pressure.
• Support development in the range of $20.25-$20.30 and has a well-known volume peak.
•Price action forms a channel for decline.
•Temporary support is $20.62, which subsequent accumulation results in recovery.
• The hourly low points match the 24-hour support zone, and it is recommended that $20.62-$20.63 be used as a critical floor.
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.
