What to know:
- In a stunning display of audacity, AVAX has gained a cheeky 3.1% in the last 24 hours, all while the Middle East continues its dramatic soap opera. 🎭
- The CoinDesk 20 index, that illustrious club of the top 20 cryptocurrencies, has also decided to join the party with a 3.6% rise. 🎉
- AVAX’s price is strutting about in a V-shaped pattern, breaking through key resistance levels like a socialite at a gala, and establishing a robust support at $19.75. 💃
Ah, Avalanche’s token, the little engine that could, has managed to gain 3.1% in the last 24 hours. It seems to be undergoing a V-shaped recovery, much like a well-timed punchline, even as the war between Iran and Israel continues to unfold like a poorly written novel.
The CoinDesk 20 — an index that excludes the riffraff of stablecoins, memecoins, and exchange coins — has risen 3.6% in the same period. Who knew cryptocurrencies could be so selective?
Technical Analysis
• A V-shaped recovery pattern has formed, with prices rebounding from $18.75 to reach a dazzling $19.85, establishing a 5.88% range. Quite the comeback, wouldn’t you say?
• Strong volume support emerged at the $18.75-$18.85 zone, with above-average volume (391K-426K) compared to the 24-hour simple moving average of 385K. It’s like a crowded café on a Sunday morning!
• Recovery momentum has accelerated with consistent high-volume buying. It’s as if everyone suddenly remembered they had a taste for AVAX.
• Key resistance levels at $19.35 and $19.65 were successfully broken, culminating in a new local high of $19.85. Breakout parties are all the rage these days!
• In the last hour, AVAX formed a clear ascending channel, with volume consistently exceeding 10,000 units per minute. Talk about a busy little bee!
• A significant breakout occurred through the $19.60 resistance level. It’s like watching a contestant on a game show finally get the answer right!
• The final push to $19.81 was confirmed with exceptionally high volume (20,401). Someone’s been hitting the gym!
• Current support established at $19.75 appears to be holding, suggesting potential for continued upward movement. Fingers crossed, dear reader!
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2025-06-16 19:23