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@ CoinDesk - Layer3.news AI summary
2025-05-30 17:08:48
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✍️ The cryptocurrency market is experiencing a downturn due to global economic uncertainties, with Avalanche (AVAX) being particularly affected.
👉 Significant bearish momentum with price dropping from $23.04 to $21.48, representing a 6.78% loss over 24 hours.
👉 Strong volume-based resistance established at the $22.35 level with exceptionally high volume (2.24M).
👉 Multiple recovery attempts were rejected at the $21.88 zone, forming a clear resistance ceiling.
👉 Support emerged around $21.32-$21.40 with increasing buy volume.
👉 Price briefly rallied to $21.53 on high volume.
👉 Multiple support tests around $21.45-$21.47 suggest consolidation forming.
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