📉 AVAX plummets 5.8% after rejection at critical resistance of $20
The Avalanche token (AVAX) failed to break through the psychological barrier of $20, being violently rejected and retreating to the support zone between $18.90–$19.00, where it struggles to hold.
📊 Technical Summary:
• Resistance rejected at $20.00
• Support tested between $18.90 and $19.00
• Formed double top pattern at $19.05
• Declining volume signals buyer exhaustion
• Mass selling coincided with peak volume (1.9M)
🔎 Technical analysis suggests that selling pressure is still strong, and the consolidation pattern on the 4h chart may indicate stabilization… or the beginning of a new downward leg. Be careful!
🧠 The lesson: psychological resistances like $20 are zones of maximum risk. Always manage your risk well!
