AVAX Breaks Out of Consolidation Phase

Avalanche’s token AVAX recently broke out of a consolidation phase, establishing strong support levels, according to CoinDesk Research’s technical analysis model. The token is up 0.8% in the last 24 hours. The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, except for stablecoins, exchange coins and memecoins — lost 0.4% over the same period. Technical Analysis • AVAX demonstrated resilient price action during the 24-hour period, establishing a small uptrend. • After initial consolidation between $17.13-$17.35, AVAX broke out with significant volume, forming strong support at $17.07 confirmed by above-average volume during reversal. • The asset established higher lows throughout the period, with resistance at $17.63 tested multiple times, suggesting accumulation phase completion and potential for continued upward momentum. • AVAX displayed significant volatility with a strong recovery pattern, rising from $17.37 to $17.45 (0.50% gain). • After an initial uptrend to $17.46, AVAX experienced a correction to $17.36, forming a double bottom pattern before staging a rally with increasing volume. • The final minutes showed price bouncing back from $17.37 to $17.46, suggesting renewed buying interest and potential continuation of the broader uptrend. 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