Tentatively higher from an earlier low of $18.19, Avalanche is up to $18.52 today, adding $0.229, or 1.25%, to today's closing price of $18.29.
Trend-focused traders would be interested to note that investors are seeking long positions as Avalanche price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. AVAX formed a session range of $18.19 to $18.79 leaving buyers and sellers highly concentrated around an active Fibonacci resistance level of $18.39. According to asset volatility analysis, Bollinger Band® analysis indicates that current price action is approaching the upper band at $18.3, thereby suggesting that Avalanche is becoming overvalued. Analysis of Avalanche's recent price action suggests Avalanche price action is currently oscillating around the $18.74 resistance level with prices moving above and below several times during the session.
Notwithstanding Avalanche's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Other markets are also showing gains as Binance Coin is up 1.89%. Dogecoin moves up 2.68% to trade around $0.125.
At the same time, Ripple descends 1.42% to trade around $0.464.
Avalanche is now trading 86.4% below the significant high of $134.53 it set around 11 months ago. AVAX is currently trading with a market cap of 5.53 billion with an average daily volume of 24.62 million.