Avalanche cryptocurrency trades up $0.662, approximately 3.86% higher going into tomorrow

After dipping down to $17.15, AVAX regains earlier losses and reaches $17.83.

Avalanche made an initial breakout above its 50 day Simple Moving Average at $17.4, a potential indicator of a newly emerging bullish phase. Price action remains constrained around the key Fibonacci level of $17.6 currently serving as resistance On the other hand, note that AVAX could be slowing down soon as it approaches resistance at $17.96. Of course, crossing it might suggest further gains are ahead.

Overall, looking at the technical analysis landscape, it seems Avalanche might continue pointing upwards in the short term.

Other markets are also showing gains as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Having closed the previous session at $28,426, Bitcoin is up 4.32% today to currently trade at around $29,653. Cosmos USD gained 6.56% and is currently trading at $11.65.

Since its 52-week high of $69.91, Avalanche has lost 75.51% over the last twelve months. Avalanche is currently trading with a market cap of 5.83 billion with an average daily volume of 219.85 million.