Avalanche’s AVAX
token has established sturdy assist across the $22 stage, efficiently defending in opposition to a number of downward exams, in response to CoinDesk Analysis’s technical evaluation mannequin.
AVAX is up 4% within the final 24 hours, outperforming the CoinDesk 20 — an index of the highest 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins and trade cash — which has risen 2.5% in the identical time frame.
Technical Evaluation
• AVAX established a key high-volume assist zone round $22.00 that efficiently defended in opposition to a number of exams.
• Value motion confirmed a 3.89% vary from the low of $21.62 to the excessive of $22.64, indicating average volatility.
• Most vital worth motion occurred with a 2.44% enhance in quantity, 2.8x increased than the 24-hour common.
• Formation of upper lows all through the interval confirms an rising uptrend with resistance at $22.57.
• A 1.7% decline within the final hour from $22.43 to $22.05 earlier than staging a average restoration.
• Notable 5.9% slide on exceptionally excessive quantity (almost 3x the hourly common).
• New assist zone established round $22.20-$22.25 with worth consolidating on this vary.
• Quantity patterns point out distribution throughout decline and accumulation throughout restoration part.
• $22.40 stage now serving as rapid resistance.
Disclaimer: Components of this text have been generated with the help from AI instruments and reviewed by our editorial group to make sure accuracy and adherence to our requirements. For extra info, see CoinDesk’s full AI Coverage.
