The avalanche token
Recently, far from a consolidation phase, establishing solid support levels, according to the Technical Analysis model of Coindesk Research. The token is up 0.8% in the last 24 hours.
Coindesk 20 – An index of the first 20 cryptocurrencies by market capitalization, with the exception of stablescoins, exchange parts and the same – lost 0.4% over the same period.
Technical analysis
• AVAX demonstrated a resilient price action during the period 24 hours a day, establishing a small upward trend.
• After an initial consolidation between $ 17.13 and $ 17.35, AVAX broke out with a large volume, forming solid support at $ 17.07 confirmed by a volume greater than the average during reversal.
• The assets established higher hollows throughout the period, with resistance to $ 17.63 tested several times, suggesting the completion of the accumulation phase and the potential of a continuous rise.
• AVAX displayed significant volatility with a strong recovery model, from $ 17.37 to $ 17.45 (Gain of 0.50%).
• After an initial positive trend at $ 17.46, AVAX experienced a correction at $ 17.36, forming a double -bottomed model before staging a rally with an increasing volume.
• The last minutes have shown that prices bounced from $ 17.37 to $ 17.46, which suggests renewing purchasing interests and potential continuation of the wider rise.
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