AVAX cryptocurrency trades up $0.302, approximately 2.45% higher going into tomorrow

Avalanche trades at $12.65 after gaining $0.302 (2.45%).

Trend analysis indicates that Avalanche made an initial breakout above its 21 day Simple Moving Average at $12.39, a potential indicator of a newly emerging bullish phase. Fibonacci-focused traders would be interested to note that Avalanche is oscillating around the key Fibonacci resistance level of $12.81. According to asset volatility analysis, Bollinger Band® analysis indicates that current price action is approaching the upper band at $13.67, thereby suggesting that Avalanche is becoming overvalued. As the trading day comes to an end, chart analysis indicates AVAX broke through the $12.85 resistance and climbed 21 cents above it.

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

AVAX shows positive signs, other assets are also on par: Solana is up 11.68%. Bitcoin Cash is up 9.07%. Having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.

Avalanche is now trading 29.35% below its 3-month high of $29.36. AVAX has a market cap of 4.37 billion with an average daily volume of 146.89 million.