# AVAX Price Drops to $18.20 as Bearish Pressure Mounts
AVAX is currently trading at $18.20, marking a -2.15% decrease in the last 24 hours. The significant trading volume of 2,287,349.83 AVAX suggests heightened market activity, reflecting a prevailing bearish sentiment among traders. The market is showing signs of increased selling pressure.
The price drop comes amid broader market weakness, with AVAX struggling to maintain support. This decline could signal a potential shift in momentum, raising concerns about further downside risk. Technical indicators suggest a possible continuation of the bearish trend in the short term.
AVAX’s market capitalization currently stands at 41,396,386.40 USDT, reflecting the overall value of the circulating supply. The substantial 24-hour trading volume indicates active participation from traders and investors. This high volume further emphasizes the significance of the current price movement and market sentiment.
Technical analysis reveals key support levels around $17.80 and resistance around $18.50. A break below the support could trigger further selling pressure, while a move above the resistance might signal a short-term recovery. Traders should closely monitor these levels for potential entry or exit points.
Observing recent trading patterns, AVAX has formed a descending triangle pattern, suggesting a potential continuation of the downward trend. A decisive break below the lower trendline could accelerate the decline. However, a surge in buying volume could invalidate this pattern and potentially lead to a price reversal.
In the short term, AVAX is expected to face continued selling pressure, with a potential test of the $17.80 support level. If this level breaks, the next target could be around $17.50. The overall market sentiment remains bearish, and caution is advised for short-term traders.
Key levels to watch in the coming days include the $17.80 support and the $18.50 resistance. A break above or below these levels could signal a significant shift in momentum. Traders should remain vigilant and adapt their strategies based on the evolving market dynamics.
Final Summary:
- Current Price: 18.20 USDT 📉
- 24h Change: -2.15% 🔻
- Market Cap: 41,396,386.40 USDT 💰
- 24h Volume: 2,287,349.83 AVAX 📊
- Circulating Supply: 194,948 işlem 🔄
