This caused AVAX to face a possible price correction, dropping AVAX from $21.26 to $18.57 before finding support at $19.06. This decrease is indicative of a 12.65% decrease in the last 24 hours. Recent market volatility spiked as a result of the ongoing geopolitical turmoil engulfing Israel and Palestine. Particularly, Israel’s air strikes on Iran were a major factor in this decline.

The cryptocurrency market responded tremendously to growing conflict. AVAX too, as with much of crypto, was not immune to the massive sell-off. The token’s daily trading range exceeded $2.69 at times, underscoring the token’s tremendous volatility.

Buying pressure returned within the last 15 minutes of trading, helping AVAX reclaim support at $19.13. Strong support seems to have developed in the $18.57-$18.70 area, indicating a possible bottoming for the correction.

In just the past hour, AVAX started to show positive pricing movement having moved from $19.04 to $19.13 for a change of 0.45%. Strong volume, with 86,895 units changing hands, helped AVAX’s price to session highs just above $19.26.

Recent price action shows that buyers have built very good support in the $18.57-$18.70 area. Contributing to AVAX’s upward momentum, the alt created an ascending channel with resistance at $19.52. This raises the hope that a time of stabilization and possible consolidation is in the air.