Tentatively higher from an earlier low of $12.9, Avalanche is up to $13.19 today, adding $0.291, or 2.25%, to today's closing price of $12.9.
Avalanche made an initial breakout above its 5 day Simple Moving Average at $13.15, a potential indicator of a newly emerging bullish phase. In contrast, Avalanche could be slowing down soon as it approaches resistance at $13.59. Of course, crossing it might suggest further gains are ahead.
Following today's unexpected gains, extensive multifactorial technical analysis forecasts Avalanche to buck against its prevailing downtrend and begin to turn higher in the short term. With all probabilities considered, the Avalanche is expected to pick up significant bullish sentiment in the coming days.
Avalanche shows positive signs, other assets are also on par: Binance Coin rises 2.17% to trade around $273.83. Having closed the previous session at $0.268, Algorand USD is up 3.78% today to currently trade at around $0.278. TRON moves up 1.51% to trade around $0.051.
Avalanche is now trading 90.41% below the significant high of $134.53 it set around 11 months ago. AVAX is currently trading with a market cap of 3.96 billion with an average daily volume of 40.28 million.