AVAX Consolidates Near $22 as Breakout Toward $23 Looms
- AVAX is regaining bullish momentum, rising to $21.82 after weeks of market volatility.
- Consolidation between $21.50 and $23.00 hints at a potential breakout move.
- Technical indicators show mixed signals, keeping traders cautious but alert.
- Market sentiment is improving, with traders watching key levels for a decisive breakout.
Avalanche (AVAX) is regaining bullish momentum after weeks of extreme volatility, rising alongside a broader crypto market recovery. Trading near $21.82, Avalanche shows signs of building strength, with traders now eyeing a breakout move toward $23.
AVAX Gains Strength Amid Market Recovery
Following a rocky period driven by macroeconomic stress, AVAX is finding renewed momentum. The altcoin benefits from a steadier Bitcoin, which remains firm around critical support levels, helping to fuel optimism across the board.
Currently, AVAX carries a 24-hour trading volume of $355.48M and a market cap of $9.07B, showing solid interest. Over the past week, Avalanche has gained 10.80%, signaling that buyers are slowly stepping back in.
Tight Consolidation Points to Imminent Breakout
Recent trading activity shows AVAX consolidating tightly between $21.50 (support) and $23.00 (resistance). This low-volatility range often precedes major moves, and the market appears poised for a breakout.
Technical signals remain mixed. Both the Relative Strength Index (RSI) and MACD hint at mild bearish pressure, but no clear reversal patterns have emerged yet. Traders are closely monitoring the zone around $21.60, where a solid bounce could trigger renewed bullish momentum.
Caution and Opportunity as Traders Wait for the Next Move
As pressure builds within the tight trading range, the market is in wait-and-see mode. A decisive break above $23 could unleash fresh buying and confirm a short-term trend reversal.
If AVAX maintains support and volume strengthens, a surge toward $23 and beyond could materialize quickly. However, until a breakout is confirmed, traders remain cautious and ready to react to emerging signals.
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Read more: https://www.tronweekly.com/avax-consolidates-near-22-as-breakout-toward-23-looms/
Text source: TronWeekly
