AVAX Adds 4% as $22 Support Zone Holds

Avalanche’s AVAX AVAX token has established strong support around the $22 level, successfully defending against multiple downward tests, according to CoinDesk Research's technical analysis model.

AVAX is up 4% in the last 24 hours, outperforming the CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins and exchange coins — which has risen 2.5% in the same period of time.

Technical Analysis

• AVAX established a key high-volume support zone around $22.00 that successfully defended against multiple tests.

• Price action showed a 3.89% range from the low of $21.62 to the high of $22.64, indicating moderate volatility.

• Most significant price movement occurred with a 2.44% increase in volume, 2.8x higher than the 24-hour average.

• Formation of higher lows throughout the period confirms an emerging uptrend with resistance at $22.57.

• A 1.7% decline in the last hour from $22.43 to $22.05 before staging a moderate recovery.

• Notable 5.9% slide on exceptionally high volume (nearly 3x the hourly average).

• New support zone established around $22.20-$22.25 with price consolidating in this range.

• Volume patterns indicate distribution during decline and accumulation during recovery phase.

• $22.40 level now serving as immediate resistance.

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 Policy.