Avalanche
It broke below the critical level of $ 17.45 amid the accelerated sales pressure, falling 3.4% in 24 hours, according to the technical analysis model of Coindesk Research.
The movement had a performance less than COINDESK 20, an index of the 20 main cryptocurrencies for market capitalization, excluding the establishments, memecutes and exchange currencies, which has fallen 1.6% in the same period of time.
Technical analysis
• AVAX experienced a significant bearish trend in the last 24 hours, falling from $ 17.82 to $ 17.21, which represents a 3.4% decrease with a total range of $ 0.85 (4.76%).
• The price action formed a “double top” pattern in the short term about $ 18.02, with the subsequent rejection that led to accelerated sale in the volume higher than the average.
• The volume increased to 710,723 units, indicating a potentially strong bassist conviction as a key support at $ 17.45 was violated.
• AVAX fell from $ 17.33 to a minimum of $ 17.02 (-1.79%) Before organizing a recovery to close at $ 17.25.
• A V -shaped pattern formed with intense sales pressure when the volume increased to 33,423 units as the price broke below the support level of $ 17.20.
• Buyers intervened, pushing Avax again above the level of $ 17.20 with a growing volume, which suggests a potential short -term stabilization.
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