Avalanche token
Recently it left a consolidation phase, establishing strong levels of support, according to the technical analysis model of Coindesk Research. The Token rose 0.8% in the last 24 hours.
Coindeesk 20, an index of the 20 main cryptocurrencies for market capitalization, with the exception of the established, exchange currencies and memecoras, lost 0.4% during the same period.
Technical analysis
• AVAX demonstrated a resistant price action during the 24 -hour period, establishing a small upward trend.
• After the initial consolidation between $ 17.13- $ 17.35, Avax exploded with a significant volume, forming a strong support at $ 17.07 confirmed by a volume greater than the average during reversal.
• The asset established higher minimums during the entire period, with resistance to $ 17.63 proven several times, which suggests the completion of the accumulation phase and the potential to continue the ascending impulse.
• AVAX showed significant volatility with a solid recovery pattern, which increased from $ 17.37 to $ 17.45 (0.50% gain).
• After an initial upward trend at $ 17.46, Avax experienced a correction at $ 17.36, forming a double bottom pattern before organizing a rally with a growing volume.
• The final minutes showed that the price was recovered from $ 17.37 to $ 17.46, which suggests a renewed purchase interest and a possible continuation of the broader upward trend.
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