AVAX Rises 4.2% Amid High-Volume Breakouts and Bullish Channel Formation
Avalanche’s AVAX token is flashing bullish signals, gaining 4.2% over the past 24 hours as it establishes an ascending price channel supported by strong volume and resilient support zones.
After starting the session at $20.91, AVAX surged to an intraday high of $22.47, representing a 7.4% move, before retracing modestly by 1.65%. The token’s ability to rebound and maintain higher lows reflects improving market sentiment.
By comparison, the broader CoinDesk 20 Index — which tracks the performance of top digital assets excluding memecoins and stablecoins — climbed 3.7% during the same period.
Technical Breakdown:
- AVAX experienced two breakout legs: a 5% rally on over 1.4 million in volume, and a 2.1% move supported by 1.8 million units traded, both pointing to robust demand.
- Key support levels were reinforced at $21.53–$21.63, anchoring the bullish structure.
- After topping at $22.47, a quick correction found temporary support near $21.80–$21.82, where buyers re-entered the market.
- The recovery shaped a classic V-formation, with higher lows driving the formation of a short-term ascending trend channel.
The current setup suggests that AVAX is building momentum, with volume and price structure aligning to favor continuation. Should broader market conditions remain supportive, the token could test new short-term highs in the sessions ahead.
