Avalanche
He struggled to maintain a short -term impulse, with trade patterns that show a formation of descending channels despite the attempts to stabilize the key support levels, according to the technical analysis model of Coindesk Research.
The Token has fallen 1.4% in the last 24 hours to $ 18.43, while Coendesk 20, an index of the 20 main cryptocurrencies for market capitalization, excluding stable, memecors and exchange currencies, lost only 0.5%.
The recent high volume sales pressure suggests a continuous bearish feeling in the short term, although a strong purchase arose during recent falls.
Technical analysis
• AVAX experienced significant price volatility in the last 24 hours, establishing a range of 0.84 (4.5%) between the maximum of $ 18.93 and the minimum of $ 18.09.
• The asset found strong support in the area of $ 18.15- $ 18.25, while facing resistance about $ 18.85- $ 18.90.
• The price action formed a descending channel, with a recent high volume sales pressure, which suggests a continuous bearish feeling despite the attempts to stabilize around the level of $ 18.40.
• AVAX experienced a V -shaped recovery, falling from $ 18.35 to a minimum of $ 18.09 with an exceptionally high volume (52,056 units) before recovering at $ 18.40.
• The recovery gained significant impulse when the price broke through the resistance at $ 18.27 in volume greater than 67,000 units, establishing a new support zone around $ 18.33- $ 18.35.
• The upward trend culminated in three consecutive minutes of zero volume, which suggests a possible consolidation before the next price movement.
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