What to know:
- Avalanche (AVAX) plummeted 3.4%. If you heard a “thud”, it was just the $17.45 support level sobbing into its pillow.
- The CoinDesk 20 index tried to join in, but only managed a 1.6% decline, making AVAX look like it’s showing off.
- AVAX presented the market with a short-term double top pattern, presumably to confuse humans and delight algorithmic traders.
Avalanche should come with a helmet these days. After bravely breaching the $17.45 support level—otherwise known as the ‘No Trespassing’ sign for prices—it promptly lost 3.4% in 24 hours, leaving technical analysts clutching their mugs of tea in despair (according to CoinDesk Research’s collection of slightly panicked charts).
The CoinDesk 20, incidentally, also took a stroll down (but only lost 1.6%), proving that, much like at family reunions, there’s always a cousin who insists on being more dramatic. AVAX, it turns out, is that cousin.
Technical Analysis or “What Just Happened to My Portfolio?”
- AVAX dropped from $17.82 to $17.21 in 24 hours—a 3.4% dive. If you blinked, you missed your life savings waving goodbye. The total range? $0.85, which in crypto terms is a whole emotional rollercoaster.
- The price action flailed about and drew a textbook double top near $18.02, a move which, in candlestick lingo, means “brace for turbulence.” Volume spiked, because nothing says “I’m scared” like hordes of traders running for the exit simultaneously.
- Peak volume: 710,723 units. That’s a lot of coin changing hands, or possibly bots arm-wrestling for fun.
- AVAX attempted an interpretive dance with prices: from $17.33 to a soul-crushing low of $17.02, then bounced back to close at $17.25—like someone missing their stop on a rollercoaster and sheepishly circling back.
- Somewhere in between, a dramatic V-shaped move emerged as prices broke the $17.20 support. 33,423 units in volume—analysts recommend lying down until this feeling passes.
- Miraculously, buyers remembered AVAX exists and kicked it back up over $17.20, hinting at maybe, just maybe, the market’s not quite done with drama.
In conclusion: AVAX tried to rebrand as a bungee jump, dragged the market with it, and technical analysts are somewhere, staring at their monitors, muttering “so long, and thanks for all the dips.” 🚀🤦♂️
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2025-06-26 18:57