Avalanche Avax
Token has established strong support around at the level of $ 22, successfully defending against multiple tests, according to the technical analysis model of Coindesk Research.
AVAX increased 4% in the last 24 hours, exceeding Coendesk 20, an index of the 20 main cryptocurrencies for market capitalization, excluding the establishments, memories and exchange currencies, which has increased 2.5% in the same period of time.
Technical analysis
• AVAX established a key high volume support zone around $ 22.00 that successfully defended multiple tests.
• The price action showed a range of 3.89% from the minimum of $ 21.62 to the maximum of $ 22.64, indicating moderate volatility.
• The most significant price movement occurred with a 2.44% increase in volume, 2.8x higher than the average of 24 hours.
• The formation of higher minimums during the entire period confirms an emerging upward trend with resistance to $ 22.57.
• A 1.7% decrease in the last hour of $ 22.43 to $ 22.05 before organizing a moderate recovery.
• Notable 5.9% in an exceptionally high volume (almost 3 times the average per hour).
• A new support area established around $ 22.20- $ 22.25 with the price consolidation in this range.
• Volume patterns indicate the distribution during decline and accumulation during the recovery phase.
• The level of $ 22.40 now serves as immediate resistance.
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