The cryptocurrency market is experiencing significant downward pressure as global economic uncertainties affect digital assets in all areas. Avalanche (AVAX) has been particularly affected, and the increase in sale occurs at high volume, establishing a strong resistance to the level of $ 22.35.
Bergen County of New Jersey announced on Wednesday that it plans to digitize all property actions in the Avalanche network under a five -year agreement with the Software Blockchain Balcony firm.
Technical analysis
• Significant bearish moment with the price that falls from $ 23.04 to $ 21.48, which represents a loss of 6.78% in 24 hours.
• Strong resistance based on the volume established at the level of $ 22.35 with an exceptionally high volume (2.24m).
• Multiple recovery attempts were rejected in the $ 21.88 zone, forming a clear resistance roof.
• The support emerged around $ 21.32- $ 21.40 with a growing purchase volume.
• The price was briefly recovered to $ 21.53 in high volume.
• Multiple support tests around $ 21.45- $ 21.47 suggests consolidation formation.
