Avalanche's AVAX token rose by 3.8% recently, climbing from $20.52 to $21.31, driven by strong trading volume and a breakout above crucial resistance levels. This upward movement occurred amidst ongoing uncertainty in international trade and speculation regarding monetary policy. Notably, AVAX established a new support zone around $21.15 after crossing the psychological $21.00 level. Despite a significant correction of 5.8% during a volume spike, the prevailing trend appears bullish with higher lows and highs since the breakout at $20.90. Analysts point to a total trade volume of 1.33 million as a confirmation of this positive momentum. As the market shows signs of consolidation, investors are advised to watch for further developments closely.
AVAX Breaks Key Resistance: What’s Next for Investors?
AVAX has surged 3.8% amid robust trading volume, surpassing key resistance levels and offering new opportunities for traders.
Jamie Bennett
Crypto Analyst
5 min read
27,304
Analysis
Market Sentiment
Bearish
Neutral
Bullish
News Impact
8/10
Credibility: 9/10
Trading Recommendation
AVAX
AVAX
BUY
Entry Price
$21.3
Confidence
80%
Stop Loss
$20.9
Take Profit
$22 - $23
Positive price movement and strong volume support the decision to initiate a buy on AVAX.
