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June 04, 2023Tentatively higher from an earlier low of $14.53, Avalanche is up to $14.76 today, adding $0.179, or 1.22%, to today's closing price of $14.58.
With regards to technical trend indicators, chart analysis show that Avalanche made an initial breakout above its 21 day Simple Moving Average at $14.57, a potential indicator of a newly emerging bullish phase. Asset volatility analysis shows that AVAX's upper Bollinger Band® is at $15.06, this is a slight indication of a slowdown. Technical analysis of Avalanche's past price action reveals multiple support and resistance levels: Avalanche broke through the $14.68 resistance and climbed above it 8 cents; next resistance level is at $14.85.
Overall, the technical outlook suggests Avalanche is likely to remain muted for the immediate future, with no clear-cut direction.
Avalanche shows positive signs, other assets are also on par: having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Bitcoin Cash rises 1.53% to trade around $116.68. Solana rises 2.05% to trade around $21.64.
AVAX is now trading 50.35% below the significant high of $29.36 it set around 9 months ago. Avalanche is currently trading with a market cap of 5 billion with an average daily volume of 116.45 million.
