Avax de Avalanche has increased 8.2% in 24 hours, rising from $ 16.29 to $ 18.50, establishing a strong support to $ 18.03, but facing resistance to the area of $ 18.47- $ 18.50, according to the technical analysis model of Caindeesk Research.
Coindesk 20, an index of the 20 main cryptocurrencies for market capitalization, excluding stable, memecoras and exchange currencies, has increased 6.3% in the same period of time.
Technical analysis
• The price action formed a clear higher trend with higher minimums that establish support at $ 18.03, while the significant volume are triggered at the levels of $ 17.40 and $ 18.07 confirmed a strong interest of the buyer.
• A remarkable resistance zone arose about $ 18.47- $ 18.50, where the profits occurred after the initial increase, although the asset kept most of its profits and seems to be ready for more rise if it can break this level with a sustained volume.
• In the last 60 minutes, Avax exhibited remarkable volatility with a clear descending trend, falling from $ 18.24 to $ 18.19, which represents a 0.28%decrease.
• The asset experienced significant price changes, reaching a maximum of $ 18.64 before finding a strong sales pressure that reduced prices at $ 18.14.
• A brief attempted recovery was formed with three consecutive green candles, but this rally failed in resistance, confirming the bearish feeling that has dominated the last part of the session.
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