AVAX Token Rises 4% as $22 Support Zone Remains Strong
Avalanche's AVAX token is showing strong support around the $22 level, effectively resisting multiple downward tests. Key points include:
- AVAX rose 4% in the last 24 hours, outperforming the CoinDesk 20 index, which increased by 2.5%.
- Key support zone is around $22.00, confirmed by high-volume defense against tests.
- Price range fluctuated from $21.62 to $22.64, indicating moderate volatility.
- Volume increased by 2.44%, significantly higher than the average.
- Formation of higher lows suggests an emerging uptrend; resistance noted at $22.57.
- Recent decline of 1.7% from $22.43 to $22.05 followed by recovery.
- Notable 5.9% drop occurred with high volume, nearly triple the hourly average.
- New support zone established between $22.20-$22.25, with price consolidating there.
- Volume patterns indicate distribution during declines and accumulation during recoveries.
- Immediate resistance now at the $22.40 level.