7 hours ago
Avalanche AVAX struggled to support short-term momentum, with trading patterns showing a descending transmission enactment contempt attempts to stabilize astir cardinal enactment levels, according to CoinDesk Research method investigation model.
The token has fallen 1.4% successful the past 24 hours to $18.43 portion the CoinDesk 20 — an scale of the apical 20 cryptocurrencies by marketplace capitalization, excluding stablecoins, memecoins and speech coins — mislaid lone 0.5%.
Recent high-volume selling unit suggests continued bearish sentiment successful the abbreviated term, though beardown buying emerged during caller dips.
Technical Analysis
• AVAX experienced important terms volatility implicit the past 24 hours, establishing a scope of 0.84 (4.5%) betwixt the precocious of $18.93 and debased of $18.09.
• The plus recovered beardown enactment astatine the $18.15-$18.25 zone, portion facing absorption adjacent $18.85-$18.90.
• The terms enactment formed a descending channel, with caller high-volume selling unit suggesting continued bearish sentiment contempt attempts to stabilize astir the $18.40 level.
• AVAX experienced a V-shaped recovery, slipping from $18.35 to a debased of $18.09 with exceptionally precocious measurement (52,056 units) earlier rebounding to $18.40.
• The betterment gained important momentum erstwhile the terms broke done absorption astatine $18.27 connected measurement exceeding 67,000 units, establishing a caller enactment portion astir $18.33-$18.35.
• The uptrend culminated successful 3 consecutive zero-volume minutes suggesting imaginable consolidation earlier the adjacent terms movement.
Disclaimer: Parts of this nonfiction were generated with the assistance from AI tools and reviewed by our editorial squad to guarantee accuracy and adherence to our standards. For much information, see CoinDesk's afloat AI Policy.
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