Avalanche’s AVAX Rallies 4.2%, Breaks Higher Amid Bullish Momentum and Strong Support Zone
AVAX, the native token of the Avalanche blockchain, is gaining bullish traction, rising 4.2% in the last 24 hours as it forms a short-term ascending channel and bounces off well-defined support.
The token climbed from $20.91 to a session high of $22.47, a 7.4% range, before experiencing a brief 1.65% pullback. Despite the correction, AVAX has maintained its upward trajectory, with buyers stepping in at key levels.
By contrast, the broader CoinDesk 20 Index — which tracks top non-stablecoin, non-memecoin digital assets — posted a 3.7% gain during the same period.
Market Snapshot:
- Breakout moves were driven by heavy volume: a 5% jump on over 1.4 million units, followed by a 2.1% push backed by 1.8 million in volume, signaling aggressive accumulation.
- Support levels have solidified between $21.53 and $21.63, forming the base for AVAX’s ongoing rally.
- After briefly peaking, AVAX saw renewed buyer interest around the $21.80–$21.82 range, helping establish a V-shaped recovery and a consistent trend of higher lows.
The formation of a well-defined uptrend channel suggests growing technical strength, with momentum favoring further upside if bullish volume persists. Traders are watching closely for a breakout beyond $22.50 as the next potential resistance.
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