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.
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.