“Strong Technical Indicators Propel Avalanche’s Token to Test Key Short-Term Resistance Levels.”, – WRITE: www.coindesk.com
Recently Broke Out of A Consolidation Phase, Establishing Strong Support Levels, Accounting To Coindesk Research’s Technical Analysis Model. The token is up 0.8% in the Last 24 Hours.
The Coindesk 20 – An Index of the Top 20 Cryptocurrencies by Market Capitalization, Except for Stablecoins, Exchange Coins and Memens – Lost 0.4% Over The Same Period.
Technical Analysis
• Avax Demonstrated Resilient Action Durying the 24-Hur Period, Establishing A Small Uptrend.
• After Initial Consolidation Between $ 17.13- $ 17.35, Avax Broke Out with Significant Volume, Forming Strong Support at $ 17.07 ConfirMed Reversal.
• The Asset Established Higher Lows Throughout the Period, with Resistance at $ 17.63 Tested Multiple Times, Suggesting Acual Phase Phase Potential for Continual.
• Avax Displayed Significant Volatility with A Strong Recovery Pattern, Rising from $ 17.37 to $ 17.45 (0.50% GAIN).
• After An initial Uptrend to $ 17.46, Avax ExperienCed A Correction to $ 17.36, Forming A Double Bottom Pattern Before Staging A Rally With IncreASING VOLUME.
• The Final Minutes Showed Price Bouncing Back from $ 17.37 to $ 17.46, Suggesting Renewed Buying Interest and Potential Continuation of the Broader Uptrend.
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