avalanche
According to Coindesk Research’s technical analysis model, the loss is below the critical $17.45 support level due to accelerated sales pressure, which dropped 3.4% in 24 hours due to accelerated sales pressure.
The move underperformed, with Coindesk 20 (through market cap, excluding stable equity, Memecoins and Exchange Coins indexes, which was a 1.6% decline in the same period.
Technical Analysis
• Avax has experienced a significant downtrend over the past 24 hours, falling from $17.82 to $17.21, accounting for a 3.4% decline, with a total range of $0.85 (4.76%).
• Price action forms a short-term “double top” model, close to $18.02, with subsequent rejection leading to sales accelerating to above-average sales.
•The volume soared to 710,723 units, indicating a violation of the main support of $17.45, which could be a strong bearish belief.
•Avax dropped from $17.33 to a low of $17.02 (-1.79%) The closing price was $17.25 before it resumed on the stage.
•When the price is below the $17.20 support level, when the number soars to 33,423 units, the V-shaped pattern is formed with huge sales pressure.
• Buyers stepped in and pushed Avax toward the $17.20 level, increasing in quantity, which indicates potential short-term stability.
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.
