AVAX cryptocurrency trades up $0.175, approximately 0.96% higher this morning

AVAX posts light gains on a low-volatility day, ranging between $18.16 – $18.45 and is now at $18.44.

Despite posting gains so far today, Avalanche slid below its 3 day Simple Moving Average at $18.14 in earlier trade — an early indicator that a negative trend could be emerging. Avalanche's upper Bollinger Band® is at $18.59, this is a slight indication of a slowdown. AVAX is 17 cents away from testing key resistance at $18.62. Peaking above this level could inspire market bulls and open the path to further gains.

Technical analysis suggests there could be an imminent reversal for Avalanche.

Avalanche shows positive signs, other assets are also on par: FTX Token is up 9.54%. UNICORN Token USD climbs 1.62% to trade around $6.47.

Meanwhile, NEAR Protocol retreats 1.76% to trade around $2.19.

AVAX has shed $63 points and is languishing 77.52% lower over the past year, leaving its yearly highs around $81.13 in the rear-view mirror. Avalanche has a market cap of 6 billion with an average daily volume of 154.43 million.