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By CD Analytics, Tom Carreras|Edited by Aoyon Ashraf
Jun 26, 2025, 2:45 p.m.
- Avalanche (AVAX) fell 3.4% in 24 hours, breaking below the critical $17.45 support level.
- The CoinDesk 20 index, excluding stablecoins, memecoins, and exchange coins, dropped 1.6% in the same period.
- AVAX’s price action formed a short-term double top pattern, with a significant volume spike indicating strong bearish sentiment.
Avalanche
broke below critical $17.45 support level amid accelerated selling pressure, dropping 3.4% over 24 hours, according to CoinDesk Research’s technical analysis model.
The move underperformed CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins and exchange coins — which has fallen 1.6% in the same period of time.
STORY CONTINUES BELOW
Technical Analysis
• AVAX experienced a significant downtrend over the last 24 hours, falling from $17.82 to $17.21, representing a 3.4% decline with a total range of $0.85 (4.76%).
• Price action formed a short-term “double top” pattern near $18.02, with the subsequent rejection leading to accelerated selling on above-average volume.
• Volume spiked to 710,723 units, indicating a potentially strong bearish conviction as key support at $17.45 was breached.
• AVAX dropped from $17.33 to a low of $17.02 (-1.79%) before staging a recovery to close at $17.25.
• A V-shaped pattern formed with intense selling pressure when volume spiked to 33,423 units as price broke below the $17.20 support level.
• Buyers stepped in, pushing AVAX back above the $17.20 level with increasing volume, suggesting potential short-term stabilization.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.
Tom writes about markets, bitcoin mining and crypto adoption in Latin America. He has a bachelor’s degree in English literature from McGill University, and can usually be found in Costa Rica. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
