Market Recap Style (Concise & Informative)
AVAX Bounces Off Key Demand Zone After 6% Drop
Avalanche’s AVAX token posted a modest recovery late Wednesday after tumbling over 6% in early trading, with bulls stepping in around the $20.76–$21.00 support area. The move came amid a broader crypto pullback, with AVAX underperforming the CoinDesk 20 Index, which fell 3.2%.
Despite the day’s losses, AVAX managed to reclaim ground above $21.20, breaking out of a descending channel. A V-shaped bounce from the $21 level — supported by surging volume — indicates that accumulation may be underway.
Key levels to watch:
- Resistance: $21.65
- Support: $20.76
- Breakout confirmation: Sustained close above $21.65
As long as AVAX holds the lower bound of its recent range, further upside attempts may follow.
