AVAX Rises 10.7%, Marking a Bullish Breakout and Indicating Robust Momentum.

Avalanche (AVAX) Breaks Key Resistance, Shows Strong Bullish Momentum Amid Market Surge

Avalanche’s AVAX token has recently emerged from a multi-week correction phase, showing impressive strength as it rallies despite ongoing geopolitical pressures on the crypto market.

The CoinDesk 20 Index (DLCS), which tracks major digital assets, has surged by 4.12%, climbing from 1403.33 to 1461.17 over the past 48 hours, with a range of 6.97% between the low of 1365.61 and the high of 1461.17. This broad market momentum aligns with the recent breakout of AVAX, which has been forming a clear bullish trend.

AVAX broke through the critical $20.40 resistance level, signaling a continuation of its upward trajectory. The breakout comes amid significant developments in the Avalanche ecosystem, underscoring its growing strength in the face of a volatile market, as analyzed by CoinDesk Research’s technical team.

Technical Analysis Overview:

• AVAX saw a substantial gain, rising from $18.87 to $20.89, reflecting a 10.7% price jump.
• The overall price movement shows a well-established bullish trend, with higher lows forming a solid support line at around $19.50.
• After consolidating between $19.30 and $19.70 on April 20, AVAX experienced a powerful breakout on April 21, as volume surged and the price moved above the $20.00 mark.
• In the past 48 hours, AVAX’s momentum has accelerated, with a bull flag pattern forming and a decisive breakout above $20.40, indicating further potential for upward movement.
• The key resistance to watch is now at $20.90, and Fibonacci extension levels suggest the next target is $21.50.
• In the last 100 minutes, AVAX surged 2.1%, climbing from $20.61 to $21.04.
• The price formed a solid base between $20.50 and $20.60 from 13:20 to 13:40, before initiating a sharp upward move.
• A breakout occurred at 14:40 with an extraordinary volume of 146,387 units, establishing a new support level at $20.80.
• Multiple high-volume candles between 14:44 and 14:48 helped push the price above the $21.00 psychological barrier, with the highest volume spike of 142,112 units occurring at 14:47.
• This breakout confirms the bullish trend seen over the past 48 hours, with Fibonacci targets now indicating $21.50 as the next key level.