Avalanche (AVAX) demonstrated strong technical momentum over the past 24 hours, registering a 3.1% price increase despite ongoing geopolitical tensions in the Middle East. The token has displayed a textbook V-shaped recovery pattern, pointing to a shift in market sentiment and increased buyer confidence.
Resilient Performance Amid Global Uncertainty
AVAX’s price climbed from $18.75 to $19.85, establishing a 5.88% price range and breaking through key resistance levels in the process. This rally comes amid broader volatility driven by the Iran-Israel conflict, which had dampened market activity earlier in the week.
The recovery was supported by strong volume at the $18.75–$18.85 range, surpassing the 24-hour average of 385K with peak volumes reaching over 426K. This volume spike signaled accumulation by traders who were betting on a short-term recovery.
Technical Analysis Highlights
AVAX’s recent uptrend is backed by solid technical indicators:
- V-shaped recovery confirmed as price bounced sharply from its local low of $18.75
- Volume consistently exceeded 10,000 units per minute during breakout attempts
- Key resistance at $19.35 and $19.65 was decisively broken
- New local high of $19.85 reached with confirmation volume of 20,401
- Support level at $19.75 is holding, suggesting bulls are protecting their gains
An ascending channel has formed on the short-term chart, indicating strong buyer presence and sustained upward momentum.
Market Outlook for AVAX
The broader crypto market, as tracked by the top 20 digital assets, rose by 3.6%, with AVAX emerging as one of the more technically bullish tokens in the cohort.
If AVAX maintains support above $19.75, the next resistance zone lies near the $20.00 psychological level, followed by $20.45.
Investors are watching for confirmation of continued trend strength through volume and structure before targeting higher levels.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.