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Avalanche
According to Coindesk Research technical analysis, it broke below the critical level of support of $ 17.45 in the middle of accelerated sales pressure and decreased by 3.4% for 24 hours.
Movement of insufficiently powerful Coindesk 20 – Index 20 best cryptocurrencies of market capitalization, with the exception of stablecoins, memoins and exchange coins – which decreased by 1.6%over the same period.
Technical analysis
• Avax has experienced a significant decline in the last 24 hours that dropped from $ 17.82 to $ 17.21, which represents a decline in 3.4% with a total range of $ 0.85 (4.76%).
• The price action created a short -term formula of the “double top” near $ 18.02, with the subsequent rejection led to an accelerated sale of above -average volume.
• The volume has increased to 710,723 units, indicating potentially strong bear beliefs because key support for $ 17.45 was violated.
• Avax dropped from $ 17.33 to low $ 17.02 (-1.79%) It closes at $ 17.25 before the recovery starts.
• A V -shaped sample created with intensive sales pressure when the volume increased to 33,423 units when the price broke below the support level of $ 17.20.
• Buyers entered and pushed AVAX back above $ 17.20 with increasing volume, indicating potential short -term stabilization.
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