Latest news with #AVAX
Yahoo
5 days ago
- Business
- Yahoo
AVAX Breaks Out of Consolidation Phase
Avalanche's token AVAX recently broke out of a consolidation phase, establishing strong support levels, according to CoinDesk Research's technical analysis model. The token is up 0.8% in the last 24 hours. The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, except for stablecoins, exchange coins and memecoins — lost 0.4% over the same period. Technical Analysis • AVAX demonstrated resilient price action during the 24-hour period, establishing a small uptrend. • After initial consolidation between $17.13-$17.35, AVAX broke out with significant volume, forming strong support at $17.07 confirmed by above-average volume during reversal. • The asset established higher lows throughout the period, with resistance at $17.63 tested multiple times, suggesting accumulation phase completion and potential for continued upward momentum. • AVAX displayed significant volatility with a strong recovery pattern, rising from $17.37 to $17.45 (0.50% gain). • After an initial uptrend to $17.46, AVAX experienced a correction to $17.36, forming a double bottom pattern before staging a rally with increasing volume. • The final minutes showed price bouncing back from $17.37 to $17.46, suggesting renewed buying interest and potential continuation of the broader uptrend. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
24-06-2025
- Business
- Yahoo
AVAX Gains 8%, but Faces Short-Term Resistance
Avalanche's AVAX has surged 8.2% in 24 hours, climbing from $16.29 to $18.50, establishing strong support at $18.03, but facing resistance at the $18.47-$18.50 zone, according to CoinDesk Research's technical analysis model. The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins and exchange coins — has risen 6.3% in the same period of time. Technical Analysis • The price action formed a clear uptrend with higher lows establishing support at $18.03, while significant volume spikes at the $17.40 and $18.07 levels confirmed strong buyer interest. • A notable resistance zone emerged around $18.47-$18.50, where profit-taking occurred after the initial surge, though the asset maintained most of its gains and appears poised for further upside if it can break through this level with sustained volume. • In the last 60 minutes, AVAX exhibited notable volatility with a clear downtrend, falling from $18.24 to $18.19, representing a 0.28% decline. • The asset experienced significant price swings, reaching a high of $18.64 before encountering strong selling pressure that drove prices down to $18.14. • A brief recovery attempt formed with three consecutive green candles, but this rally failed at resistance, confirming the bearish sentiment that has dominated the latter part of the session. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19-06-2025
- Business
- Yahoo
CoinDesk 20 Performance Update: Uniswap (UNI) Gains 4.3%, Leading Index Higher
CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index. The CoinDesk 20 is currently trading at 3001.7, up 0.8% (+23.65) since 4 p.m. ET on Wednesday. Seventeen of 20 assets are trading higher. Leaders: UNI (+4.3%) and POL (+2.8%).Laggards: AVAX (-1.9%) and DOT (-0.9%). The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.
Yahoo
19-06-2025
- Business
- Yahoo
AVAX Stages Short-Term V-Shaped Recovery, Struggles to Maintain Momentum
Avalanche AVAX struggled to maintain short-term momentum, with trading patterns showing a descending channel formation despite attempts to stabilize around key support levels, according to CoinDesk Research technical analysis model. The token has fallen 1.4% in the last 24 hours to $18.43 while the CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins and exchange coins — lost only 0.5%. Recent high-volume selling pressure suggests continued bearish sentiment in the short term, though strong buying emerged during recent dips. Technical Analysis • AVAX experienced significant price volatility over the past 24 hours, establishing a range of 0.84 (4.5%) between the high of $18.93 and low of $18.09. • The asset found strong support at the $18.15-$18.25 zone, while facing resistance near $18.85-$18.90. • The price action formed a descending channel, with recent high-volume selling pressure suggesting continued bearish sentiment despite attempts to stabilize around the $18.40 level. • AVAX experienced a V-shaped recovery, slipping from $18.35 to a low of $18.09 with exceptionally high volume (52,056 units) before rebounding to $18.40. • The recovery gained significant momentum when the price broke through resistance at $18.27 on volume exceeding 67,000 units, establishing a new support zone around $18.33-$18.35. • The uptrend culminated in three consecutive zero-volume minutes suggesting potential consolidation before the next price movement. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI in to access your portfolio
Yahoo
17-06-2025
- Business
- Yahoo
AVAX Rises 3% in V-Shaped Recovery, Defies Middle East Uncertainty
Avalanche's token AVAX has gained 3.1% in the last 24 hours and appears to be undergoing a V-shaped recovery even as the war between Iran and Israel continues, according to CoinDesk research's technical analysis model. The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins and exchange coins — has risen 3.6% in the same period of time. Technical Analysis • V-shaped recovery pattern formed with price rebounding from $18.75 to reach $19.85, establishing a 5.88% range. • Strong volume support emerged at the $18.75-$18.85 zone, with above-average volume (391K-426K) compared with the 24-hour simple moving average of 385K. • Recovery momentum accelerated with consistent high-volume buying. • Key resistance levels at $19.35 and $19.65 were successfully broken, culminating in a new local high of $19.85. • In the last hour, AVAX formed a clear ascending channel with volume consistently exceeding 10,000 units per minute. • Significant breakout occurred through the $19.60 resistance level. • Final push to $19.81 was confirmed with exceptionally high volume (20,401). • Current support established at $19.75 appears to be holding, suggesting potential for continued upward movement. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
