Tentatively higher from an earlier low of $20.42, AVAX is up to $21.43 today, adding $0.914, or 4.45%, to today's closing price of $20.52.
With regards to technical trend indicators, chart analysis show that investors are seeking long positions as Avalanche price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. According to momentum evaluation, the Relative Strength Index indicates AVAX is currently 'overbought' which suggests new gains will be harder to obtain. Analysis based on the asset volatility indicates that Bollinger Band® analysis indicates that current price action is approaching the upper band at $21, thereby suggesting that Avalanche is becoming overvalued. A study of AVAX's chart reveals various key levels to watch: Avalanche broke through the $21.15 resistance, climbing 28 cents above it.
Overall, while Avalanche has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Avalanche shows positive signs, other assets are also on par: FTX Token leaps up 9.54% to trade around $1.36. Chainlink USD gained 6.43% and is currently trading at $8.69. Bitcoin added 3.36% to its value, now trading at $30,437.
AVAX is now trading 74.1% below the significant high of $79.22 it set around 11 months ago. AVAX is currently trading with a market cap of 6.99 billion with an average daily volume of 191.37 million.