Avalanche token
According to Coindesk Research’s technical analysis model, a strong level of support has been established recently. Tokens have risen by 0.8% over the past 24 hours.
Coindesk 20 (via 20 cryptocurrency indexes with market cap except Stablecoins, Exchange Coins and Memecoins, but lost 0.4% over the same period.
Technical Analysis
•Avax showed elastic price action within 24 hours, establishing a smaller uptrend.
•After the initial merger between $17.13-$17.35, Avax burst out in large quantities, confirming strong support at above-average amounts during the reversal, forming strong support at $17.07.
•The assets established high lows throughout the period with a resistance of $17.63 tested multiple times, indicating the potential for completion of the accumulation phase and continuing upward momentum.
•avax shows significant volatility and has a strong recovery approach, rising from $17.37 to $17.45 (Gain 0.50%).
•After initially rising to $17.46, Avax corrected to $17.36, forming a double-bottom pattern, and then gathering with increased volume.
•The last few minutes showed that the price rebounded from $17.37 to $17.46, indicating a potential continuation of the renewal of purchase interest and a broader uptrend.
Disclaimer: Part of this article was generated with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and compliance Our standards. For more information, see Coindesk’s complete AI policy.
