After seven days of declines, AVAX is up $0.2 today

Marginally higher but lacking a clear-cut direction, Avalanche is trading at $11.72 after ranging between $11.46 and $12.02 today.

Avalanche made an initial breakout above its 5 day Simple Moving Average at $12, a potential indicator of a newly emerging bullish phase. AVAX's lower Bollinger Band® is at $11.22, indicating that the market is oversold and fertile for new buyers. On the other hand, note that after reaching the known resistance zone beginning at $11.62, Avalanche price action retreated approximately 10 cents.

AVAX continues to move higher with technical analysis indicating the trend will continue in the short term.

Avalanche shows positive signs, other assets are also on par: FTX Token is up 9.54%. Binance Coin climbs 3.15% to trade around $238.34. Bitcoin Cash moves up 3.09% to trade around $105.87.

Avalanche reached a significant high of $29.36 around 10 months ago but has lost 60.77% since then. AVAX is currently trading with a market cap of 4 billion with an average daily volume of 146.71 million.