AVAX rebounds $0.245 from a 2 months low

After ending today at $14.14, today Avalanche dropped to its lowest point in 2 months — $13.86. It later recovered $0.245 and currently trades at $14.1.

Trend-following investors would be interested to note 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 upper Bollinger Band® is at $15.66 and the lower is $13.91. Following today's trading session, chart analysis suggests after reaching the $13.89 support zone, Avalanche bounced and climbed 21 cents above it.

With market volatility ebbing, the current technical outlook indicates Avalanche will remain range-bound for the immediate future.

At the same time, mixed performances are seen elsewhere as FTX Token is up 9.54%. UNICORN Token USD is down to $6.43, losing $0.197, after closing at $6.63 in the preceding trading session. Algorand USD is down $0.004 from the beginning of the session and now trades around $0.15.

Over the past 9 months, Avalanche has retreated 51.83% from a noteworthy peak of $29.36. AVAX is currently trading with a market cap of 4.72 billion with an average daily volume of 128.20 million.