AVAX Slides After Early Rally, Support Forms at $20.25
Avalanche’s AVAX token rallied to $21.48 early Monday, gaining 3.7%, before reversing sharply as sellers took control. The drop established fresh support around $20.25, where buying interest helped stabilize price action.
AVAX’s intraday move failed to hold above the $21.40 resistance zone, but the swift recovery off the $20.25 low suggests this level could serve as a critical base in the short term. A smaller bounce near $20.62 adds further support to the lower range.
The token remains locked in a downward-sloping channel, with momentum favoring consolidation unless buyers reclaim the $21.50 level convincingly.
Market-wide sentiment was modestly positive, with the CoinDesk 20 Index rising 1.1% over the same period.
