Avalanche (AVAX) #AVAXUSD experienced a notable 6.78% decline over the past 24 hours, dropping from $23.04 to $21.48. This downturn was accompanied by significant trading volume, with a strong resistance level forming at $22.35 due to high volume activity (2.24 million) .
Despite this pullback, on-chain data indicates that AVAX #AVAX✅ AVAhas established a robust support level above $22.8. This support is bolstered by accumulation from approximately 362,000 wallets holding over 21.65 million AVAX coins . Analysts suggest that a consistent close above the $25 liquidity level could trigger a renewed rally, potentially targeting the $35–$55 range.
Currently, AVAX is trading within a range of $21.46 to $24.57. A breakout above $24.57 may pave the way toward higher resistance levels, while a drop below $21.46 could test lower support zones . The broader altcoin market continues to exhibit bearish sentiment, influenced by Bitcoin's $BTC price movements.
