AVAX tumbles 7%, unable to break past resistance at $22.35.

Avalanche’s AVAX Falls Nearly 7% as Bergen County Moves to Digitize Property Deeds Using Its Blockchain

Avalanche’s native token AVAX experienced a sharp decline amid broader market turbulence, dropping 6.78% over the last 24 hours and hitting resistance at $22.35 on heavy trading volume.

The decline comes as Bergen County, New Jersey, announced a pioneering agreement with blockchain software company Balcony to digitize all property deeds on the Avalanche network, signaling growing institutional adoption of the blockchain.

Market and Technical Highlights:

• AVAX fell from $23.04 to $21.48, reflecting significant selling pressure.
• Strong resistance was encountered at $22.35 with over 2.24 million tokens traded during rejection attempts.
• Attempts to recover above $21.88 repeatedly failed amid persistent selling.
• Support developed between $21.32 and $21.40, bolstered by increasing buy volume.
• The price briefly rebounded to $21.53 before selling resumed.
• Multiple tests of support near $21.45 to $21.47 suggest consolidation in play.

While short-term price action has been weak, Bergen County’s integration of Avalanche technology highlights the growing practical utility of the platform beyond cryptocurrencies.