Archivecoin fell more than 10% to $1.46 over the past 24 hours, underperforming the broader cryptocurrency market, which itself was heading south.
The token fell to $1.46 from $1.62, establishing a range of $0.16 with intraday volatility of 11%, according to CoinDesk Research’s technical analysis model.
The model showed that volume increased 32.7% above the seven-day moving average, indicating concentrated selling pressure.
The maximum settlement occurred at midnight UTC, with volume of 20 million, more than four times the 24-hour simple moving average, according to the model. A technical breakout accelerated through the $1.58 support while resistance formed near $1.47.
The selling established strong momentum through consecutive lower highs from the high of $1.6385. The capitulation occurred around $1.46 following the high volume breakout event. The current price action suggests possible stabilization after selling pressure runs out, according to the model.
The broader market indicator, the CoinDesk 20 index, fell 7%.
Technical analysis:
- Strong resistance formed near $1.47 after breaking $1.58 support
- Key Resistance at Previous $1.58 Support Level Now Critical to Recovery
- 24-hour volume increased 32.7% above the 7-day moving average
- Peak sales volume of 19.97 million at breakout point (318% above SMA)
- The last hour showed exhaustion with zero volume consolidation.
- Potential stabilization forming around the $1.46 support zone
- Immediate resistance at $1.47 must hold for further decline
- Recovery requires reclaiming broken support level of $1.58
- Risk of fall towards $1.40 if current support fails
Disclaimer: Portions of this article were generated with the help of artificial intelligence tools and were reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s full AI Policy.
