Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Avalanche recovers from Evergrande-led sell-off as AVAX rebounds over 30%

Published 09/22/2021, 09:00 AM
Updated 09/23/2021, 12:00 PM
Avalanche recovers from Evergrande-led sell-off as AVAX rebounds over 30%

Avalanche (AVAX) prices recovered on Sept. 22, paring a portion of losses that hit cryptocurrencies at the beginning of this week, led by worries about potential contagion in China’s housing market.

The AVAX/USD exchange rate surged by as much as 12.05% to log an intraday high at $66.08. The pair’s gains came as a part of an interim rebound that started Tuesday after it bottomed out at a local low of $50.68. As a result, AVAX’s net rebound stretched by up to 30.37%.

AVAX price vs. VORTECS™ Score. Source: Cointelegraph Markets Pro
The performance of top 15 crypto tokens on a 24-hour adjusted timeframe. Source: TradingView
AVAX/USD daily price chart featuring rising wedge setup. Source: TradingView

Continue Reading on Coin Telegraph

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.