Key Information:

• The Avalanche token AVAX experienced a trading range of 5.5%, fluctuating between $21.16 and $19.98.
• A robust resistance level exists at $20.68, with a bearish trend causing AVAX to dip below the $20.10 support.

Market Performance:

The AVAX token, while currently valued at $18.68, registered a 5% decline over the past 24 hours, underperforming against the CoinDesk 20 index which decreased by 1.7% during the same timeframe.

Technical Analysis:

• The 24-hour trading range was $1.15 (5.5%), from a high of $21.16 to a low of $19.98.

• Significant resistance emerged at $20.68 and this was followed by a substantial decline noted during a peak trading volume spike of 1.58 million.

• A brief recovery was observed, pushing the price up to $20.53, but selling pressure quickly resumed.

• In the final hour, the price fell from $20.51 to $20.07, marking a 2.14% decrease.

• A definitive bearish pattern was noted, with prices decreasing from $20.39 to $20.22, confirmed by a significant surge in trading volume of 60,003 units.

• The price breached the critical $20.10 psychological support, with a minor recovery attempt noted thereafter.

• The current market analysis indicates a resistance level at $20.47 and an immediate support at $20.00.

Disclaimer:

Parts of this article were enhanced using AI tools and were subject to human review to maintain adherence to accuracy and standards.