The Avox Avalanche token broke out of its several-week correction phase, demonstrating remarkable force despite current geopolitical tensions affecting the cryptocurrency markets.
The wider market index, Coindesk 20 (DLCS), has demonstrated an exceptional bullish dynamic, from 1403.33 to 1461.17 in the last 48 hours, representing a gain of 4.12%, while the overall range extends over 95.56 points (6.97%) of the lowest of 1365.61 at the maximum of 1461.17.
The recent AVAX price action shows an accelerated momentum with the formation of a Taurus flag model and a decisive rupture greater than $ 20.40, coinciding with significant institutional developments in the ecosystem,, According to Coindesk Research technical analysis data.
Strengths of technical analysis
- Avax has demonstrated remarkable force, going from 18.87 to 20.89, representing a gain of 10.7%.
- Price action reveals a clear upward trend with higher stockings forming a strong support trend around 19.50.
- After consolidating between 7:30 p.m. and 9.70 on April 20, Avx experienced a significant escape on April 21, the volume increasing considerably while the price increased above 20.00.
- The most recent 48 hours show an accelerated momentum with the formation of a Taurus flag model and a decisive break above 20.40, suggesting another upward potential.
- Key resistance at 20.90 now becomes the level to monitor, with fibonacci extension targets pointing to 21.50 as the following significant objective.
- In the last 100 minutes, Avx went from 20.61 to 21.04, representing a gain of 2.1%.
- After consolidating between 20.50-20.60 during the period of 13: 20-13: 40, the price formed a solid base before launching a powerful ascendant movement.
- The decisive break occurred at 14:40 with an extraordinary volume (146,387 units), creating a high level of support at 20.80.
- Several high volume candles followed between 14: 44-14: 48, pushing the price through the psychological barrier 21.00 Critique with the highest volume peak (142 112 units) at 14:47.
- This escape completes the bullish scheme established in the previous 48 hours, with fibonacci extension targets now suggesting 21.50 as a significant significant objective.
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