AVAX cryptocurrency trades up $0.982, approximately 4.79% higher this afternoon

Tentatively higher from an earlier low of $20.42, Avalanche is up to $21.5 today, adding $0.982, or 4.79%, to today's closing price of $20.52.

Support/Resistance levels obtained from chart analysis indicate that Avalanche broke through the $21.15 resistance, climbing 35 cents above it. Trend-focused traders would be interested to note that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. According to momentum evaluation, according to technical analysis of Avalanche's Relative Strength Index (RSI), the market is currently overbought. Asset volatility analysis shows that Bollinger Band® analysis indicates that current price action is approaching the upper band at $21.04, thereby suggesting that AVAX is becoming overvalued.

Notwithstanding AVAX's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

AVAX shows positive signs, other assets are also on par: FTX Token is up 9.54%. Having closed the previous session at $8.17, Chainlink USD is up 6.17% today to currently trade at around $8.67. Bitcoin gained 3.12% and is now trading at $30,365.

AVAX has fallen back around 74.1% over the past 11 months, from a notable high of $79.22. Avalanche has a market cap of 7 billion with an average daily volume of 191.37 million.