AVAX Spikes 10.7%, Triggering a Bullish Breakout and Boosting Market Confidence.

Avalanche (AVAX) Surges Past Key Resistance, Strong Momentum Indicates Further Upside

Avalanche’s AVAX token has made a powerful comeback, breaking out of a multi-week correction phase and demonstrating remarkable strength despite ongoing challenges in the broader cryptocurrency market.

The CoinDesk 20 Index (DLCS), a benchmark tracking major digital assets, has surged 4.12% in just 48 hours, rising from 1403.33 to 1461.17. The index has shown a wide range of 6.97%, moving from a low of 1365.61 to a high of 1461.17, which correlates with AVAX’s bullish momentum in recent days.

AVAX recently surged past the $20.40 resistance level, marking a key breakout in its price action. The breakout comes amid positive developments within the Avalanche ecosystem, as detailed by CoinDesk Research’s technical analysis.

Technical Analysis Highlights:

AVAX saw a substantial increase, rising from $18.87 to $20.89, representing a 10.7% price gain.
A clear bullish trend has formed, with higher lows creating a solid support trendline near $19.50.
After consolidating between $19.30 and $19.70 on April 20, AVAX made a breakout move on April 21, pushing above $20.00 with significant volume.
The price action over the last 48 hours has shown accelerated momentum, forming a bull flag pattern and breaking above $20.40, signaling further bullish potential.
The key resistance level to monitor now is $20.90, and Fibonacci extension targets suggest that $21.50 could be the next major price point.
In the most recent 100-minute window, AVAX surged 2.1%, climbing from $20.61 to $21.04.
The price formed a stable base between $20.50 and $20.60 between 13:20 and 13:40 before initiating a strong upward move.
A breakout occurred at 14:40 with a surge in volume (146,387 units), establishing a new support level at $20.80.
Between 14:44 and 14:48, high-volume candles helped push the price through the crucial $21.00 level, with the highest volume recorded at 14:47, reaching 142,112 units.
This breakout confirms the bullish trend seen in the previous 48 hours, with Fibonacci extension levels now targeting $21.50 as the next important level.