$AVAX Rises 8%, Faces Resistance at $18.50
Avalanche's native token (AVAX) surged 8.2% over the past 24 hours, rising from $16.29 to $18.50, with strong support forming at $18.03. However, technical analysis from CoinDesk Research indicates key resistance between $18.47 and $18.50.
The CoinDesk 20 Index also gained 6.3% during the same period.
Key Technical Highlights:
AVAX maintained an upward trend, supported by strong trading volume at $17.40 and $18.07.
Price peaked at $18.64 before retreating to $18.14 due to selling pressure.
Recent short-term pullback saw the token dip from $18.24 to $18.19 (-0.28%).
A brief recovery attempt failed at resistance, reinforcing short-term bearish sentiment.
A breakout above $18.50 with sustained volume could signal further upside potential.