Avalanche’s AVAX AVAX token experienced significant price fluctuation in the short term, trading within a 5.5% range between $21.16 and $19.98. Bears remain in control despite intermittent support around the $20.10 level.
The 18th-largest currency by market capitalization, down 5% over 24 hours, underperformed the CoinDesk 20 — an index of the top 20 cryptocurrencies by market cap, excluding memecoins, stablecoins and exchange coins — which has lost 1.7% in the same period.
Technical Analysis
• AVAX established a trading range of $1.15 (5.5%) between the high of $21.16 and low of $19.98 over the 24-hour period.
• Strong resistance formed at $20.68, with a sharp decline accompanied by the highest volume spike (1.58M).
• A modest recovery attempt emerged, pushing price to $20.53, but selling pressure quickly returned.
• In the last hour, AVAX dropped from $20.512 to $20.073, representing a 2.14% decline.
• A clear bearish pattern formed, pushing price down from $20.39 to
We współpracy z: https://www.coindesk.com/markets/2025/06/05/avax-drops-5-forming-bearish-pattern-on-short-time-frame
