Avalanche (AVAX) is approaching a crucial demand zone between $20 and $25 after experiencing a significant 18% drop in the last 24 hours. Despite this decline, traders are closely monitoring trading volume indicators which signal rising interest as prices hover near this key support level. The recent downturn triggered panic selling, leading to a surge in trading volumes exceeding $3 billion. Notably, the previous demand zone between $23.11 and $25.50 was historically strong during bullish rallies, suggesting a potential rebound if buyers step in. However, if prices fall below the crucial support around $23.11, there could be further losses towards the $20 level. Traders are currently analyzing price action and volume trends to identify potential entry points for their positions.