Share this article
AVAX Plunges 13% as Crypto Sinks on Rise in Mideast Tensions
Avalanche's native token faces significant selling pressure, though buyers have emerged at a key short-term support level.
Jun 13, 2025, 3:17 p.m.
What to know:
- The cryptocurrency market is highly volatile due following Israel's strikes against Iran, with Avalanche (AVAX) experiencing a 13% correction.
- AVAX found strong support between $18.57 and $18.70, showing signs of stabilization and potential consolidation.
- The CoinDesk 20 index has decreased by 6.2% in the past 24 hours, reflecting widespread market impact.
The cryptocurrency market is experiencing significant volatility due to Israel’s strikes on Iran. Avalanche has been particularly affected, undergoing a substantial 13% correction with high trading volume.
Despite the sharp decline, buyers have established strong support in the $18.57-$18.70 range, with recent price action showing signs of stabilization and potential consolidation, according to CoinDesk research’s technical analysis model.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins and exchange coins — has lost 6.2% in the last 24 hours.
Technical Analysis
• AVAX underwent a significant correction, dropping from $21.26 to a low of $18.57, representing a 12.65% decline over the 24-hour period.
• Strong support was established around $18.57-$18.70.
• Recent price action formed an ascending channel with resistance at $19.52, while the 24-hour trading range of $2.69 highlights substantial volatility.
• In the last hour, AVAX demonstrated recovery, climbing from $19.04 to $19.13 (0.45% gain).
• Volume analysis reveals particularly strong buying interest, with exceptional volume (86,895 units) propelling price to session highs near $19.26.
• The final 15 minutes established support at $19.06, with buyers pushing AVAX back above $19.13.
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
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
CME Group Expands Crypto Derivatives With Spot-Quoted XRP and Solana Futures
These are CME’s smallest crypto contracts to date, aimed at active participants who prefer to trade in spot market terms without managing contract expiries or rollovers.
What to know:
- CME Group has launched Spot-Quoted futures for XRP (XRP) and Solana (SOL), allowing for trading closer to real-time market prices.
- These are CME’s smallest crypto contracts to date, aimed at active participants who prefer to trade in spot market terms without managing contract expiries or rollovers.
- The launch also includes Trading at Settlement (TAS) for XRP, SOL and Micro futures, enabling traders to manage risk around crypto ETFs with added flexibility.
Top Stories
