AVAX Surges 3.8% to $21.31, Breaking Resistance Amid Global Market Jitters
Avalanche’s AVAX token posted a strong intraday rally on Tuesday, rising from $20.52 to $21.31 as it pierced key resistance levels backed by robust trading volume. The move came as crypto markets grappled with broader uncertainty stemming from international trade tensions and speculation over global monetary policy shifts.
Technical Highlights:
- AVAX recorded a 3.8% intraday gain, covering a 6.2% range from low to high.
- The token formed a bullish structure with successive higher highs and lows, breaching resistance at $20.90.
- A volume spike of 1.33 million validated the breakout move, signaling strong buyer interest.
- New support solidified around the $21.15 level, with $21.00 acting as a key psychological pivot.
- A sharp pullback followed the rally, with AVAX shedding 5.8% during the session’s highest volume bar (40,669 units), suggesting profit-taking.
- Falling volume in later hours pointed to market cooling and potential consolidation.
The breakout above resistance and the formation of fresh support levels may set the stage for renewed momentum—provided broader market conditions stabilize. Traders will be watching closely for signs of continuation or deeper consolidation ahead.
