Avalanche (AVAX) staged a sharp V-shaped bounce in the last 24 hours but is now struggling to hold its momentum. Despite a brief surge, the token is showing signs of weakness within a descending channel, indicating ongoing short-term bearish pressure.
🔍 Quick Overview:
24h Change: -1.4% | Current Price: $18.43
Range: $18.09 (low) to $18.93 (high) — a 4.5% swing
Support Zone: $18.15 – $18.25
Resistance Area: $18.85 – $18.90
📈 Price Action:
AVAX briefly dipped to $18.09 on high volume, then sharply recovered above $18.27, triggering a strong buying push. However, the uptrend paused after three consecutive zero-volume minutes, suggesting possible consolidation or a slowdown ahead.
🧠 Key Insight:
While the recovery signals buyer interest, continued resistance and high-volume sell-offs hint that bears are still in control for now.