The cryptographic markets shook on Thursday when the president of the United States, Donald Trump, and the CEO of Tesla, Elon Musk, participated in a heated argument in social networks about the national debt of the United States, which accumulated in the richest man in the world that backed Trump’s political trial and claiming that the politician chosen twice was involved in Jeffrey Epstein’s archives.
Avalanche Token, Avax
It was one of the blows, falling as low as $ 18.48 from $ 20.14. Since then, it has increased 6% to $ 19.65 to claim almost 58% of the losses while forming a promising ascending channel pattern with resistance to $ 19.76, according to the technical analysis model of Coindesk Research.
The Token has lost 1% for 24 hours, while Coendesk 20, an index of the 20 main cryptocurrencies for market capitalization, except for the established, exchange currencies and memecors, has fallen 0.85%.
The recent negotiation sessions show a decisive purchase pressure, with notable volume peaks that coincide with price over the pricing that briefly brought Avax to a local maximum of $ 19.76. Market analysis points to the consistent formation of higher minimums in the last 14 hours as evidence of strengthening the bullish impulse, with the psychological level of $ 20.00 now within reach if the current trajectory is maintained.
Technical analysis
• AVax experienced a strong decrease of 8.14% of $ 20.14 to $ 18.48, with a maximum sales pressure when the volume increased to 3.65 million.
• Strong support established at $ 18.48 was established, and Price subsequently increased to $ 19.65, recovering 57.8% of losses.
• An ascending channel pattern has been formed with resistance to $ 19.76.
• The remarkable high volume support arose at $ 18.48- $ 18.88.
• The highest minimums consisting in the last 14 hours indicate strengthening the bullish impulse.
• In the last hour, Avax continued recovery with a gain of 1.01% of $ 19.49 to $ 19.69.
• Volume peaks were produced (45,299 and 64,948 units), coinciding with price increases to a local maximum of $ 19.76.
• The current price action shows the strengthening of the upward feeling with support levels around $ 19.53- $ 19.55.
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