Share this article
AVAX Slides 7%, Hits Strong Resistance at $22.35 Level
A county in New Jersey recently announced that it would use the Avalanche blockchain to digitize all property deeds.
Updated May 30, 2025, 6:12 p.m. Published May 30, 2025, 4:14 p.m.
Make us preferred on Google
What to know:
- AVAX dropped 6.78% over 24 hours, falling from $23.04 to $21.48 amid a broader crypto market decline.
- Geopolitical tensions and uncertain trade policies continue to weigh on cryptocurrency markets, with bitcoin recently dropping below $106,000.
The cryptocurrency market is experiencing significant downward pressure as global economic uncertainties impact digital assets across the board. has been particularly affected, with increased selling occurring at high volume, establishing strong resistance at the $22.35 level.
New Jersey’s Bergen County announced on Wednesday that it plans to digitize all property deeds on the Avalanche network under a five-year agreement with blockchain software firm Balcony.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Technical Analysis
• Significant bearish momentum with price dropping from $23.04 to $21.48, representing a 6.78% loss over 24 hours.
• Strong volume-based resistance established at the $22.35 level with exceptionally high volume (2.24M).
• Multiple recovery attempts were rejected at the $21.88 zone, forming a clear resistance ceiling.
• Support emerged around $21.32-$21.40 with increasing buy volume.
• Price briefly rallied to $21.53 on high volume.
• Multiple support tests around $21.45-$21.47 suggest consolidation forming.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Crypto ETFs with staking can supercharge returns but they may not be for everyone
From yield potential to custody risks, here’s how direct ETH and staking funds compare for different investor goals.
What to know:
- Investors can now choose between owning ether directly or buying shares in a staking ETF that earns rewards on their behalf.
- While staking ETFs offers yield, they come with risks and less control than holding ETH in an exchange or wallet.
- Grayscale’s Ethereum staking ETF recently paid $0.083178 per share, yielding $3.16 in rewards on a $1,000 investment.
Top Stories
