AVAX Rebounds From Key Support After 6% Plunge

Avalanche's token’s recovery from oversold conditions suggests potential for continued upward momentum if newly established support holds. Avalanche AVAX$19.10 found support after a substantial decline on the short-term, according to CoinDesk Research's technical analysis model. The token is down 5.6% in the last 24 hours, underperforming the CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins and exchange coins — which lost 3.2% in the same period of time. Technical Analysis • AVAX-USD pair declined 6.46% before staging a recovery. • A high-volume support zone emerged around $20.76-$20.85, where strong buying interest reversed the downtrend. • Price action formed a descending channel with resistance at $21.65, which was broken when AVAX climbed above $21.20. • V-shaped reversal pattern formed with strong buying momentum emerging around the $21 psychological support level. • Heavy accumulation occurred, with trading volume exceeding 23,000 units per minute. • The $20.76-$21.00 zone may serve as a significant demand area for near-term price action. 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. https://www.coindesk.com/markets/2025/06/12/avax-rebounds-from-key-support-after-6-plunge #crypto #bitcoin #ethereum #cryptocurrency #news #blockchain #litecoin #cryptonews #cryptonewstoday #cryptoworld #cryptonewstoday ***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT! This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research. bitcoin, blockchain, crypto, cryptocurrency, altcoin, investment, ethereum, bitcoin crash, xrp, cardano, ripple