AVAX Plunges Amid Middle East Tensions
AVAX experienced a significant dip,falling nearly 14% following israel’s strike on Iran.This decline was steeper than most other crypto assets. The attack heightened concerns about a potential Middle East conflict, causing a risk-off sentiment in the market.
on June 13, AVAX hit a low of $18.53, later stabilizing around $19. The drop was part of a broader sell-off in altcoins. Traders are now wary due to geopolitical tensions. Oil prices rose, sparking inflation worries and pushing investors towards safer assets.
Among the top 100 tokens, onyl 23 saw a bigger drop. The token’s price action reflects a bearish trend. Technical indicators show a long-term bearish pattern. A double-top formation at $55.20 in 2024 led to a crash below $1
