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

Published 09/22/2021, 09:00 AM
Updated 09/22/2021, 10:40 AM
Avalanche recovers from Evergrande-led sell-off as AVAX rebounds over 30%
AVAX/USD
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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

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