Avalanche token
He has won 3.1% in the last 24 hours and seems to be experiencing a V -shaped recovery, even when the war between Iran and Israel continues, according to the technical analysis model of Coindesk Research.
Coindesk 20, an index of the 20 main cryptocurrencies for market capitalization, excluding stable, memecutes and exchange currencies, has increased 3.6% in the same period of time.
Technical analysis
• The V -shaped recovery pattern formed with the price bounce of $ 18.75 to reach $ 19.85, establishing a range of 5.88%.
• The strong volume support arose in the $ 18.75- $ 18.85 area, with a volume higher than the average (391K-426K) compared to the simple 385K mobile average of 24 hours.
• The impulse of accelerated recovery with high volume consistent purchases.
• Key resistance levels at $ 19.35 and $ 19.65 were successfully broken, culminating in a new local maximum of $ 19.85.
• In the last hour, AVAX formed a transparent ascending channel with a volume that constantly exceeds 10,000 units per minute.
• There was a significant breakdown through the resistance level of $ 19.60.
• The final impulse at $ 19.81 was confirmed with an exceptionally high volume (20,401).
• The current support established at $ 19.75 seems to be retention, which suggests potential to continue the ascending movement.
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