AVAX cryptocurrency trades up $0.218, approximately 1.35% higher going into tomorrow

Avalanche spiked to $16.5 before dropping back to its pre-spike levels and is now heading towards the close around $16.35.

Technical analysis trend indicators suggest that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Asset volatility analysis shows that AVAX's lower Bollinger Band® is at $15.63, indicating that the market is oversold and fertile for new buyers. As the trading day comes to an end, chart analysis indicates Avalanche reversed direction at $16.59 resistance zone and retreated back 24 cents below it.

All in all, the technical analysis suggests AVAX has no clear-cut direction.

Avalanche shows positive signs, other assets are also on par: FTX Token is up 9.54%. TRON is up 1.41% to $0.068.

At the same time, UNICORN Token USD is trading around $6.43 (down $0.197).

11 months ago AVAX reached a significant high of $99.74 but has consequently lost 83.83% since then. AVAX has a market cap of 5.31 billion with an average daily volume of 256.48 million.