Avalanche’s token
Recently, a consolidation phase broke out and established strong support levels according to Coindesk Research’s technical analysis model. The token has increased by 0.8% over the past 24 hours.
Coindesk 20 – an index of the top 20 cryptocurrencies at market value, except for stablecoins, exchange coins and memcoins – lost 0.4% in the same period.
Technical analysis
• Avax demonstrated resilient price action during the 24-hour period and established a small appearance.
• After initial consolidation between $ 17.13- $ 17.35, Avax broke out with a significant volume and formed strong support for $ 17.07 confirmed with volume above average during reversing.
• The asset established higher low lower throughout the period, with resistance to $ 17.63 tested several times, suggesting the end of the phase phase and the potential for continued momentum upwards.
• Avax showed significant volatility with a strong recovery pattern and increased from $ 17.37 to $ 17.45 (0.50% gain).
• After an initial increase to $ 17.46, Avax experienced a correction to $ 17.36, forming a double -bottom pattern before staging a rally with rising volume.
• The last minutes showed price jumping back from $ 17.37 to $ 17.46, hinting at renewed buying interest and potential continuation of the wider uptrend.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance with Our standards. For more information, see Coindesk’s full AI policy.
