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


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

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 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