Crypto markets were shaken on Thursday when US President Donald Trump and Tesla CEO Elon Musk deal with a heated argument on social media about the American national fault, who cumulated in the richest man in the world who endorsed Trump’s accusation and claimed that the twice chosen politician was involved in the Jeffrey Epstein files.
Avalanche’s token, Avax
Was one of the hit, fell to $ 18.48 from $ 20.14. Since then it has risen 6% to $ 19.65 to reclaim nearly 58% of the losses, while it is a promising ascending channel pattern with resistance at $ 19.76, according to the technical analysis model of Coindesk Research.
The token has lost 1% for 24 hours, while the Coindesk 20, an index of the Top 20 cryptocurrencies per market capitalization, except for stablecoins, exchange of coins and memecoins, with 0.85% has fallen.
Recent trade sessions show decisive purchasing pressure, with remarkable volume peaks that coincide with price stabs that briefly pushed Avax to a local highlight of $ 19.76. Market analysis points to the consistent formation of higher lows in the past 14 hours as proof of strengthening the bullish momentum, with the psychological level of $ 20.00 now within reach as the current process.
Technical analysis
• Avax experienced a sharp decrease of 8.14% from $ 20.14 to $ 18.48, with peak sales pressure when the volume increased to 3.65 million.
• Strong support set at $ 18.48, with the price then steadily climbing to $ 19.65, causing 57.8% of the losses to reclaim.
• An increasing channel pattern has been formed with resistance at $ 19.76.
• Remarkable support with a high volume came to the fore at $ 18.48- $ 18.88.
• Consistent higher lows in the past 14 hours indicate the strengthening of the Bullish Momentum.
• Avax recovery continued in the last hour with a win of 1.01% from $ 19.49 to $ 19.69.
• Volume peaks took place (45,299 and 64,948 units), coinciding with pricing to a local highlight of $ 19.76.
• The current price promotion shows the reinforcement of bullish sentiment with support levels around $ 19.53- $ 19.55.
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