# AVAX Price Drops to $15.23 as Bearish Pressure Mounts 📉
AVAX is currently trading at $15.23, marking a significant -12.07% drop in the last 24 hours. The substantial trading volume of 4,697,494.41 AVAX underscores the intensity of today’s price action. Market sentiment surrounding AVAX has turned decidedly bearish.
The sharp decline in AVAX’s price reflects the broader downturn in the cryptocurrency market today. This negative momentum has pushed AVAX below key support levels, raising concerns amongst investors. Further downward pressure could be imminent if the selling continues.
The 74,662,954.32 USDT market cap reflects the impact of the price drop. Coupled with the high trading volume, this indicates a strong bearish conviction in the market. The circulating supply remains at 368,708 işlem.
Technically, AVAX is now testing crucial support levels around the $15 mark. A break below this level could trigger further selling. Resistance is now likely to be found around the $17 level, which previously acted as support.
The descending triangle pattern formed over the past few days suggests a continuation of the bearish trend. A decisive break below the $15 support could accelerate the decline. Conversely, a strong bounce off this level might signal a short-term recovery.
In the short term, AVAX’s price is expected to remain under pressure. The bearish momentum and high trading volume indicate a potential further decline. Reclaiming the $17 resistance level would be a positive sign, but this currently seems unlikely.
Key levels to watch for AVAX are the $15 support and the $17 resistance. A break below $15 could trigger a further slide, while a move above $17 might indicate a reversal in momentum. Traders should closely monitor these levels for potential trading opportunities.
Final Summary:
- Current Price: 15.23 USDT
- 24h Change: -12.07%
- Market Cap: 74,662,954.32 USDT
- 24h Volume: 4,697,494.41 AVAX
- Circulating Supply: 368,708 işlem
