The cryptocurrency market is experiencing significant volatility due to Israel’s attacks on Iran. Avalanche
It has been particularly affected, experiencing a substantial correction of 13% with a high volume of negotiation.
Despite the strong decrease, buyers have established strong support in the range of $ 18.57- $ 18.70, with a recent price action that show signs of stabilization and potential consolidation, according to the technical analysis model of Coindesk Research.
Coindesk 20, an index of the 20 main cryptocurrencies for market capitalization, excluding stable, memecoras and exchange currencies, has lost 6.2% in the last 24 hours.
Technical analysis
• AVAX underwent significant correction, falling from $ 21.26 to a minimum of $ 18.57, which represents a 12.65% decrease during the 24 -hour period.
• Strong support was established around $ 18.57- $ 18.70.
• Recent price action formed an ascending channel with resistance to $ 19.52, while the 24 -hour negotiation range of $ 2.69 highlights substantial volatility.
• In the last hour, Avax demonstrated recovery, rising from $ 19.04 to $ 19.13 (0.45% gain).
• The volume analysis reveals a particularly strong purchase interest, with an exceptional volume (86,895 units) price that drives the session maximums about $ 19.26.
• The last 15 minutes established the support of $ 19.06, with buyers that push Avax above $ 19.13.
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