AVAX Token Gains 3.1% as V-Shaped Recovery Emerges
AVAX has increased by 3.1% in the last 24 hours, displaying a V-shaped recovery despite ongoing geopolitical tensions.
The CoinDesk 20 index, which tracks the top 20 cryptocurrencies by market capitalization, excluding stablecoins, has risen by 3.6% during the same period.
Technical Analysis
- V-shaped recovery from $18.75 to $19.85, establishing a 5.88% range.
- Strong volume support at $18.75-$18.85 with above-average volume (391K-426K).
- Accelerated recovery momentum due to high-volume buying.
- Key resistance levels at $19.35 and $19.65 broken, reaching a new local high of $19.85.
- Clear ascending channel formed with volume exceeding 10,000 units per minute.
- Breakout through the $19.60 resistance level confirmed.
- Final push to $19.81 supported by high volume (20,401).
- Current support at $19.75 appears stable, indicating potential for upward movement.