AVAX remains range-bound within a $19.41 to $19.78 range but falls to $19.49 in choppy trade.
Technical analysis of Avalanche's past price action reveals multiple support and resistance levels: Avalanche could begin to recover as it approaches significant support, now 57 cents away from $18.92. Dipping below could be an indication that further losses are ahead. Trend-focused traders would be interested to note that despite being in the red so far in the current trading session, AVAX peaked above its 5 day Simple Moving Average around $19.73 — typically an early indicator of a new bullish trend beginning to emerge. Analysis based on the asset volatility indicates that Avalanche's upper Bollinger Band® is at $21.14 which indicates a further downward move may follow.
With market volatility ebbing, the current technical outlook indicates Avalanche will remain range-bound for the immediate future.
Other assets are showing positive performances as UNICORN Token USD is up 2,559,472%. FTX Token gained 9.54% and is currently trading at $1.36. Dogecoin gained 3.48% and is now trading at $0.092.
This year has been a bright one for Avalanche after trading as low as $10.87 and going on to appreciate by 81.59% year to date. AVAX has a market cap of 6.14 billion with an average daily volume of 68.40 million.