AVAX Declines 8.5% Amid Global Economic Uncertainties and Trade Tensions
Global economic uncertainties and trade tensions have impacted cryptocurrency markets, leading to an 8.5% decline in AVAX over the past 24 hours.
Key Points:
- AVAX fell from $21.84 to $20.11.
- Significant selling occurred, dropping from $21.49 to $21.01 on high volume (2.56M).
- Support at $20.00 saw substantial buying volume (1.73M), but recovery efforts were weak.
- After a brief recovery attempt to $20.38, AVAX dropped to $19.97.
- A double bottom pattern formed with increased buying volume, allowing a slight recovery to $20.13.
- Consolidation between $19.97 and $20.35 indicates potential base formation, but resistance at $20.35 remains.