AVAX Experiences 13% Drop Amid Cryptocurrency Market Volatility
The cryptocurrency market is facing volatility due to geopolitical tensions, particularly Israel's actions against Iran. Key points include:
- Avalanche (AVAX) has experienced a 13% correction, dropping from $21.26 to $18.57.
- Strong support is noted in the $18.57-$18.70 range.
- The CoinDesk 20 index has decreased by 6.2% over the past 24 hours.
- Recent price movements indicate an ascending channel with resistance at $19.52.
- AVAX showed recovery in the last hour, rising from $19.04 to $19.13 (0.45% gain).
- High trading volume reached 86,895 units, pushing prices to near $19.26.
- Support was established at $19.06 as buyers drove AVAX above $19.13.
Overall, AVAX shows signs of stabilization following significant corrections amid current market conditions.