Avax of the avalanche
Token has established a strong support around the level of $ 22, successfully defending against several downward tests, according to the Technical Analysis model of Coindesk Research.
AVAX is up 4% in the last 24 hours, upgrading the Coindesk 20 – an index of the first 20 cryptocurrencies by market capitalization, excluding stablescoins, mecoins and exchange parts – which increased by 2.5% in the same period.
Technical analysis
• AVAX has established a high -volume support area around $ 22.00 which successfully defended against several tests.
• Price action showed a beach of 3.89% of the lowest of $ 21.62 to a summit of $ 22.64, indicating moderate volatility.
• The most significant price movement occurred with an increase of 2.44% of the volume, 2.8x greater than the average of 24 hours.
• The highest stockings throughout the period confirms an emerging trend with resistance at $ 22.57.
• A 1.7% drop in the last hour from $ 22.43 to $ 22.05 before staging a moderate recovery.
• Notable slide of 5.9% over an exceptionally high volume (almost 3 times the hourly average).
• A new support area has established about $ 22.20 at $ 22.25 with prices consolidating in this range.
• The volume models indicate the distribution during decline and accumulation during the recovery phase.
• The level of $ 22.40 is now used as immediate resistance.
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