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