📉 AVAX Drops 5.8% After Rejection at Key $20 Resistance
Avalanche’s token (AVAX) faced a sharp rejection at the psychological $20 level, pulling back to the $18.90–$19.00 support zone where it’s currently trying to stabilize.
📊 Technical Summary:
• Clear rejection at $20.00
• Support forming at $18.90–$19.00
• Double top pattern around $19.05
• Falling volume signals weak buyer interest
• Peak selling pressure triggered a sharp drop (1.9M volume spike)
🔎 Technicals show strong selling pressure and a possible trader exhaustion phase. The 4H consolidation pattern may signal either stabilization… or the beginning of a deeper correction. Stay alert.
🧠 Reminder: Psychological resistances like $20 are high-risk zones. Always manage your risk properly!
