Avalanche trades at $16.84 after gaining $0.169 (1%).
Avalanche reversed direction at $17.37 resistance zone and retreated back 53 cents below it. Although up today, early price action saw Avalanche dropping below its 3 day Simple Moving Average at $16.84 — an early indicator that a new downward trend could be emerging. Avalanche's upper Bollinger Band® is at $17.97, this is a slight indication of a slowdown.
Technical analysis of Avalanche price action suggests it is likely to undergo a short-term reversal amid broader bullish sentiment.
Other markets are also showing gains as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Polkadot is up 3.05%. Having closed the previous session at $1, Tezos USD is up 2.75% today to currently trade at around $1.04.
This year has been a bright one for AVAX after trading as low as $10.87 and going on to appreciate by 54.56% year to date. AVAX has a market cap of 5.25 billion with an average daily volume of 41 million.