AVAX Plunges 9% as Global Economic Tensions Rattle Crypto Markets
Global economic uncertainties and escalating trade tensions have sent ripples through cryptocurrency markets, with Avalanche (AVAX) experiencing a sharp 8.5% decline over the past 24 hours.
Despite forming a potential double bottom pattern at the $19.97 support level with increased buying volume, the overall bearish sentiment continues to dominate AVAX’s price action.
Technical Analysis
• AVAX experienced a significant downtrend over 24 hours, falling from $21.84 to $20.11.
• Pronounced selling occurred when price dropped sharply from $21.49 to $21.01 on exceptionally high volume (2.56M).
• Support emerged at $20.00 with substantial buying volume (1.73M), though absence of meaningful recovery suggests bearish momentum remains…
