Avalanche
He found support after a substantial decrease in the short term, according to the technical analysis model of Coindesk Research.
The Token has dropped 5.6% in the last 24 hours, with a lower performance than Coendesk 20, an index of the 20 main cryptocurrencies for market capitalization, excluding the establishments, memecors and exchange currencies, which lost 3.2% in the same period of time.
Technical analysis
• The AVAX-UD PAR decreased 6.46% before organizing a recovery.
• A high volume support zone arose about $ 20.76- $ 20.85, where strong purchase interests reversed the bearish trend.
• The price action formed a descending channel with resistance to $ 21.65, which broke when Avax rose above $ 21.20.
• The V -forming investment pattern formed with a strong purchase impulse that emerges around the level of psychological support of $ 21.
• There was a great accumulation, with a negotiation volume exceeding 23,000 units per minute.
• The area of $ 20.76- $ 21.00 can serve as a significant demand area for a short-term price action.
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