AVAX Finds Support After 6% Decline in Price
Avalanche (AVAX) has found support after a notable decline, according to CoinDesk Research.
- AVAX is down 5.6% in the last 24 hours, while the CoinDesk 20 index lost 3.2%.
- The AVAX-USD pair fell 6.46% before recovering.
- A support zone emerged between $20.76 and $20.85, reversing the downtrend.
- Resistance was identified at $21.65, broken when AVAX climbed above $21.20.
- A V-shaped reversal pattern formed with strong buying momentum around the $21 psychological support level.
- Trading volume exceeded 23,000 units per minute, indicating heavy accumulation.
- The $20.76-$21.00 zone may be significant for near-term price action.