Avalanche’s native token AVAX is showing impressive resilience and strength, outperforming the broader crypto market amid volatile conditions. The token’s recent breakout signals renewed investor interest and momentum.
AVAX Outpaces Market with Strong Gains
In the last 24 hours, AVAX rose 4.2%, climbing from $20.91 to a peak of $22.47 before a brief pullback. This 7.4% intraday range demonstrates significant buying interest, especially compared to the broader market where the top 20 index climbed only 3.7%.
The current trading price of AVAX is around $21.99, showing stability above multiple support levels.
Technical Indicators Suggest Bullish Momentum
Avalanche’s performance is being driven by strong technical signals, including:
- Two major high-volume breakouts: a 5% gain with over 1.4 million in volume, followed by a 2.1% increase on 1.8 million in volume.
- A V-shaped recovery pattern, indicating strong demand after short-term corrections.
- Formation of an uptrend channel with higher lows, confirming bullish continuation signals.
- Strong support between $21.53 and $21.63, which has helped stabilize the price and build bullish momentum.
- Temporary support at $21.80-$21.82, where buyers quickly stepped in following a minor 1.65% correction from the peak.
What This Means for Traders and Investors
The recent price action in AVAX suggests that the token has entered a short-term bullish phase, backed by volume and strong recovery moves. The formation of an ascending channel and support confirmation signals continued interest from both retail and institutional participants.
With resistance at $22.47 already tested and support zones holding firm, traders may expect further upside if the uptrend continues, especially if volume remains elevated.
Outlook for Avalanche
As Avalanche continues to innovate in the layer-1 blockchain space, market confidence is being reflected in its price movements. Should this trend persist, AVAX may look to test higher resistance levels in the $23-$24 range.
AVAX’s breakout and recovery come at a time when broader market confidence is returning, positioning it as a standout performer among altcoins.