AVAX Rises 8.2% to $18.50 with Resistance at $18.47-$18.50
Avalanche’s AVAX increased by 8.2% over 24 hours, rising from $16.29 to $18.50. Support is established at $18.03, while resistance exists in the $18.47-$18.50 range. The CoinDesk 20 index rose 6.3% during the same period.
Technical Analysis
- The price trend shows higher lows with support at $18.03 and significant buyer interest confirmed by volume spikes at $17.40 and $18.07.
- Resistance is noted around $18.47-$18.50, where profit-taking occurred post-surge, yet gains remain intact. A breakout above this level with sustained volume could lead to further increases.
- In the last hour, AVAX experienced volatility, dropping from $18.24 to $18.19, a 0.28% decline.
- The asset reached a high of $18.64 but faced selling pressure that pushed prices down to $18.14.
- A recovery attempt saw three consecutive green candles, but failed at resistance, highlighting prevailing bearish sentiment.