Avalanche has rallied $0.73, or 4.08%, to now stand at $18.61.
Trend and momentum analysis indicates that Avalanche made an initial breakout above its 5 day Simple Moving Average at $18.56, a potential indicator of a newly emerging bullish phase. Analysis based on the asset volatility indicates that Bollinger Band® analysis indicates that current price action is approaching the upper band at $19.47, thereby suggesting that AVAX is becoming overvalued. Analysis of AVAX's recent price action suggests AVAX price action is currently oscillating around the $18.82 resistance level with prices moving above and below several times during the session.
All in all, the technical analysis suggests Avalanche has no clear-cut direction.
Other markets are also showing gains as MaticNetwork USD is up 10.27%. Having closed the previous session at $0.127, Dogecoin is up 5.12% today to currently trade at around $0.134. Binance Coin is up 3.96%.
Approximately 11 months ago, AVAX reached a significant high of $134.53 but has struggled to hold onto its gains and declined 86.71% since then. AVAX is currently trading with a market cap of 5.56 billion with an average daily volume of 30 million.