AVAX Climbs 4% as Bulls Defend $22 Level, Signaling Potential Upside Reversal
Avalanche’s AVAX token is exhibiting renewed strength after successfully holding the critical $22 support level, a sign that bulls are regaining control amid improving sentiment in the altcoin market.
AVAX has risen 4% over the past 24 hours, outpacing the CoinDesk 20 index’s 2.5% gain. The move highlights growing investor confidence as technical indicators suggest the formation of a bullish base.
Key Technical Highlights:
- The $22.00 level acted as a strong support floor, absorbing multiple downward tests and triggering fresh buying interest.
- AVAX traded in a range of 3.89% during the period, moving between $21.62 and $22.64, with intraday momentum favoring the upside.
- A significant uptick in trading volume — 2.8 times the 24-hour average — accompanied the latest rally, underscoring conviction behind the move.
- A pattern of higher lows emerged, pointing to a developing bullish trend. Immediate resistance is seen near $22.57.
- The token experienced a brief 1.7% dip from $22.43 to $22.05 but swiftly recovered, reinforcing the strength of underlying demand.
- A sharp 5.9% drop earlier in the session on elevated volume now appears to have formed a local bottom.
- Consolidation around $22.20–$22.25 is establishing a new support band as the market digests recent volatility.
- Traders are now eyeing a potential breakout above $22.40, which could open the door to further gains.
If buying momentum holds and resistance levels are breached, AVAX may be setting up for a sustained upward move in the days ahead.
