Avalanche cryptocurrency trades up $0.462, approximately 2.73% higher going into tomorrow

Tentatively higher from an earlier low of $16.9, AVAX is up to $17.4 today, adding $0.462, or 2.73%, to today's closing price of $16.93.

Avalanche made an initial breakout above its 10 day Simple Moving Average at $17.17, a potential indicator of a newly emerging bullish phase. Despite this, AVAX broke through the $17.18 resistance and climbed 22 cents above it.

Following today's unexpected gains, extensive multifactorial technical analysis forecasts Avalanche to buck against its prevailing downtrend and begin to turn higher in the short term. With all probabilities considered, the AVAX is expected to pick up significant bullish sentiment in the coming days.

Avalanche shows positive signs, other assets are also on par: FTX Token leaps up 9.54% to trade around $1.36. Ethereum added 6% to its value, now trading at $1,990.46. Having closed the previous session at $21.73, Solana is up 5.36% today to currently trade at around $22.89.

Avalanche is now trading 71% below the significant high of $58.36 it set around a year ago. Avalanche is currently trading with a market cap of 5.75 billion with an average daily volume of 215.21 million.