Bergen County to Tokenize $240B in Property Deeds on Avalanche Network
The cryptocurrency market faces downward pressure due to global economic uncertainties. Avalanche (AVAX) has seen heightened selling activity, establishing strong resistance at the $22.35 level.
Bergen County in New Jersey announced plans to digitize all property deeds on the Avalanche network through a five-year agreement with Balcony.
Key technical analysis points include:
- Price dropped from $23.04 to $21.48, a 6.78% loss over 24 hours
- Resistance established at $22.35 with high volume of 2.24M
- Recovery attempts rejected at $21.88, forming a resistance ceiling
- Support found around $21.32-$21.40 with rising buy volume
- Price briefly rallied to $21.53 on high volume
- Consolidation indicated by multiple support tests around $21.45-$21.47