4 hours ago
After reaching a precocious of $19.99, Avalanche’s token AVAX was sharply rejected astatine the $20 intelligence barrier, triggering accelerated selling that drove prices down to $18.61, according to CoinDesk research’s method investigation model. The rejection coincided with highest trading measurement of 1.9 million, suggesting large-scale profit-taking and presumption liquidations.
The token is down 5.8% successful the past 24 hours, portion the CoinDesk 20 — scale of the apical 20 cryptocurrencies by marketplace capitalization, excluding stablecoins, memecoins and speech coins — has mislaid 4.2%.
Technical Analysis
• Clear rejection astatine the $20.00 intelligence absorption level.
• Peak trading measurement (1.9M) occurred astatine midnight erstwhile the terms concisely touched $18.74.
• Support has formed successful the $18.90-$19.00 portion with aggregate tests.
• The four-hour consolidation signifier suggests imaginable stabilization aft the crisp decline.
• Diminishing volumes bespeak waning trader involvement astatine existent levels.
• Double apical signifier formed astir the $19.05 level.
• Increasing selling unit with declining volumes suggest trader exhaustion.
Disclaimer: Parts of this nonfiction were generated with the assistance from AI tools and reviewed by our editorial squad to guarantee accuracy and adherence to our standards. For much information, see CoinDesk's afloat AI Policy.
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