AVAX price down 9.75% on geopolitical tensions, but technicals saw it coming

Avax fell almost 14% after the Israel strike on Iran, more than most cryptographic assets, as prevailing in the lowering techniques.

Altcoins took a hit after Israel’s attack On Iran, fears have delighted a broader conflict of the Middle East. Friday June 13, avalanche (Avax) fell by more than 14%, with a daily hollow of $ 18.53. The token then stabilized at around $ 19, but still displayed a daily drop of 9.75%.

The avalanche was only one of the altcoins that dropped while the feeling of risk prevailed in the markets. The rise in oil prices, which fuel fears of inflation, scare merchants to safety assets. However, avalanche decreases were worse than average, with only 23 of the 100 best tokens when seeing a worse drop.

Part of the reason was weak techniques, in particular a long term lowering pattern which was formed in 2024. Avax Price formed a model with a double high at $ 55.20, then crashed below $ 15. This model suggests that the price will face significant resistance before it can find its previous levels.

In addition, Avax is still negotiated in the lowering flag model, near the lower limit of its rising channel. Its price is currently lower than all simple and exponent moving averages, showing that the momentum is not in its favor.

What is the next step for Avx?

Despite the lowering techniques, Avalache has seen positive news on ecosystems in recent weeks, which reports a positive long -term perspective. On the one hand, the network struck a Number of milestones Regarding use.

The network has reached a record level in the use of gas, at 2.6 Billions, an ATH in daily transactions at 18.1 million, and a record number of transactions per second. This is aligned with a broader trend of a constant increase in adoption. It also proves the scalability and the capacity of the network to deal with large volumes.