Avalanche’s AVAX Climbs 4.2%, Confirming Upward Channel Formation

AVAX Gains 4.2% as Buyers Step In, Establishing Short-Term Uptrend

Avalanche’s AVAX token is showing strength amid broader market gains, advancing 4.2% over the past 24 hours and carving out a clear short-term uptrend channel, according to CoinDesk Research.

AVAX traded from a session low of $20.91 to a high of $22.47, marking a 7.4% intraday range before settling back slightly after a 1.65% pullback. The price action reflects increasing volatility, but strong buyer support remains evident.

The broader CoinDesk 20 Index rose 3.7% in the same timeframe, indicating AVAX outperformed its peers.

Key Technical Signals:

Two major volume spikes fueled bullish momentum: one rally saw a 5% move on 1.4M volume, followed by a 2.1% gain on 1.8M volume.
Solid support emerged around $21.53–$21.63, helping maintain bullish bias as AVAX bounced off these levels multiple times.
After peaking at $22.47, AVAX found temporary support near $21.80–$21.82, forming the base for an upward channel.
Price action now reflects a V-shaped recovery, with a pattern of higher lows, suggesting sustained accumulation.

AVAX’s recent performance highlights improving sentiment around Avalanche’s ecosystem, as traders respond to technical strength and volume-backed rallies. The formation of an uptrend channel could set the stage for further upside if support levels hold.