World financial uncertainties and escalating commerce tensions have despatched ripples via cryptocurrency markets, with Avalanche (AVAX) experiencing a pointy 8.5% decline over the previous 24 hours.
Regardless of forming a possible double backside sample on the $19.97 help stage with elevated shopping for quantity, the general bearish sentiment continues to dominate AVAX’s worth motion.
Technical Evaluation
• AVAX skilled a major downtrend over 24 hours, falling from $21.84 to $20.11.
• Pronounced promoting occurred when worth dropped sharply from $21.49 to $21.01 on exceptionally excessive quantity (2.56M).
• Assist emerged at $20.00 with substantial shopping for quantity (1.73M), although absence of significant restoration suggests bearish momentum stays dominant.
• AVAX demonstrated a unstable restoration try from $20.00 help, initially climbing to $20.38 earlier than experiencing a pointy selloff to $19.97.
• Subsequent worth motion fashioned a double backside sample with elevated shopping for quantity, permitting restoration to $20.13 by session’s finish.
• Consolidation between $19.97-$20.35 suggests potential base formation, although general bearish momentum stays intact with resistance at $20.35.
