Avalanche (AVAX) Sheds 5.8% After Hitting Strong Resistance Near $20

AVAX Falls Nearly 6% After $20 Rejection, Faces Pressure as Volumes Decline

June 17, 2025

Avalanche’s token AVAX is struggling to hold support levels after a sharp rejection near the $20 mark sent prices lower. The asset has dropped 5.8% in the past 24 hours and is currently testing the critical $18.90–$19.00 zone amid fading trading interest.

AVAX briefly rallied to a high of $19.99, but momentum faltered as sellers stepped in aggressively at the key psychological barrier. The ensuing sell-off drove prices down to $18.61, according to technical data from CoinDesk Research. The rejection coincided with a spike in trading activity, with volumes hitting 1.9 million AVAX, indicating profit-taking and potential liquidations of leveraged positions.

By comparison, the broader CoinDesk 20 Index—tracking the top 20 cryptocurrencies by market cap, excluding stablecoins, memecoins, and exchange coins—fell 4.2% during the same period.

Technical Overview

Clear rejection at the $20.00 psychological resistance level.
Highest trading volume of 1.9 million AVAX recorded around midnight as prices briefly touched $18.74.
Support has repeatedly held between $18.90–$19.00, but remains vulnerable.
A four-hour consolidation pattern suggests possible short-term stabilization.
Trading volumes are fading, hinting at reduced market participation.
A double top pattern has formed near $19.05, potentially capping further upside.
Persistent selling pressure alongside declining volumes suggests traders may be exhausted.

For now, AVAX traders are watching closely to see if the token can maintain the current support range or if deeper declines could unfold as market sentiment remains cautious.