Avalanche’s native token, AVAX, posted a sharp 5% decline over the past 24 hours, underperforming the broader crypto market. While the CoinDesk 20 Index fell 1.7% in the same period, AVAX exhibited greater downside volatility, reflecting a more bearish technical posture.
AVAX traded within a 5.5% intraday range, fluctuating between a high of $21.16 and a low of $19.98. Despite brief signs of support near the $20.10 level, sellers continued to dominate price action.
Technical Overview:
- Daily Range: $21.16 (high) to $19.98 (low), marking a $1.15 spread
- Resistance Zone: Firm selling pressure emerged at $20.68, accompanied by a volume spike of 1.58M
- Failed Rebound: A brief recovery attempt reached $20.53 before being rejected
- Late-Session Drop: AVAX fell from $20.512 to $20.073 in the past hour — a 2.14% decline
- Bearish Continuation: Price moved lower from $20.39 to $20.22, forming a clean short-term downtrend
- Volume Confirmation: Selling pressure was supported by a surge in volume (60,003 units)
- Support Breach: AVAX broke below psychological support at $20.10, with minor recovery attempts failing to hold gains
- Current Levels: Immediate resistance sits at $20.47, while short-term support is seen at $20.00
The current technical setup suggests sustained bearish momentum, with AVAX likely to test the $19.90–$20.00 support zone in the near term. A failure to reclaim $20.50 could expose the token to deeper downside risk, particularly if broader market sentiment remains fragile.
