AVAX Rises 3% in V-Shaped Recovery, Defies Middle East Uncertainty

Avalanche’s token AVAX has gained 3.1% in the last 24 hours and appears to be undergoing a V-shaped recovery even as the war between Iran and Israel continues, according to CoinDesk research’s technical analysis model. The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins and exchange coins — has risen 3.6% in the same period of time. Technical Analysis • V-shaped recovery pattern formed with price rebounding from $18.75 to reach $19.85, establishing a 5.88% range. • Strong volume support emerged at the $18.75-$18.85 zone, with above-average volume (391K-426K) compared with the 24-hour simple moving average of 385K. • Recovery momentum accelerated with consistent high-volume buying. • Key resistance levels at $19.35 and $19.65 were successfully broken, culminating in a new local high of $19.85. • In the last hour, AVAX formed a clear ascending channel with volume consistently exceeding 10,000 units per minute. • Significant breakout occurred through the $19.60 resistance level. • Final push to $19.81 was confirmed with exceptionally high volume (20,401). • Current support established at $19.75 appears to be holding, suggesting potential for continued upward movement. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards . For more information, see CoinDesk’s full AI Policy .

Source: CoinDesk