| 
June 17, 2023
After closing at $11.52 today, Avalanche began today at $11.52 with significant bullish sentiment driving Avalanche's price action higher. So far today, price action has drawn out a distinct $11.49 to $11.82 range.
Avalanche made an initial breakout above its 5 day Simple Moving Average at $11.54, a potential indicator of a newly emerging bullish phase. In contrast, AVAX could be slowing down soon as it approaches resistance at $11.76. Of course, crossing it might suggest further gains are ahead.
Examining the technical analysis landscape, AVAX might continue its downtrend in the short term.
Other markets are also showing gains as FTX Token is up 9.54% to $1.36. Binance Coin is up 2.79%. MaticNetwork USD climbs 4.52% to trade around $0.616.
Avalanche has shed 34.57% over the past three months. AVAX has a market cap of 4 billion with an average daily volume of 147.74 million.
