Avalanche Avax
Token continues to demonstrate significant volatility as it weakens after its recent rally.
After initially increasing 3.72% of $ 20.71 to $ 21.48, Avax experienced an acute investment, falling to $ 20.25 and establishing a critical support zone between $ 20.25 and $ 20.30, according to the technical analysis model of Coindesk Research.
The technical indicators suggest that the level of $ 20.62- $ 20,63 is emerging as a crucial floor for short-term pricing action, with an accumulation interest that appears at these levels.
Meanwhile, Coindesk 20, an index of the 20 main cryptocurrencies for market capitalization, excluding stablecoins, memecoras and exchange currencies, has increased 1.1% in the last 24 hours.
Technical analysis
• AVAX formed a clear resistance zone around $ 21.40- $ 21.50 with high volume sales pressure.
• The support has been developed in the range of $ 20.25- $ 20.30, with a remarkable volume peak.
• The price action formed a descending channel.
• Temporary support formed at $ 20.62, with a subsequent accumulation that led to recovery.
• Bajo per hour coincided with the 24-hour support zone, suggesting that $ 20.62- $ 20.63 can serve as a critical floor.
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