Avalanche’s AVAX token extended its recent slide on Tuesday, falling 5% over the last 24 hours and underperforming the CoinDesk 20 Index, which shed 1.7% during the same window. Despite sporadic attempts to hold ground around $20.10, bearish pressure remained the dominant force throughout the session.
AVAX traded between $21.16 and $19.98 — a 5.5% range — as traders reacted to macro uncertainty and fading momentum across altcoins.
Key Market Signals:
- Range Bound: Price fluctuated $1.15 intraday, with clear rejection at the $20.68 resistance level
- Volume Spike: Selling intensified at the top, marked by a surge to 1.58 million in volume
- Failed Bounce: A modest recovery to $20.53 was quickly reversed
- Late-Day Drop: AVAX shed 2.14% within an hour, slipping from $20.512 to $20.073
- Bearish Breakdown: Price declined further from $20.39 to $20.22, forming a lower high
- Momentum Confirmation: A volume burst of over 60K units reinforced bearish sentiment
- Support Breach: The key $20.10 support level gave way, though price hovered just above $20.00 by close
- Resistance / Support: Resistance now stands at $20.47, with $20.00 offering near-term support
AVAX’s technical profile remains heavy, with consistent rejection at resistance levels and volume-backed selling on every bounce. Bulls will need to reclaim the $20.50 zone to neutralize the short-term downtrend. Until then, price action is likely to remain under pressure.
