Avalanche (AVAX) surged to a new all-time high earlier today at $99.90, short of 10 cents from the $100 mark. However, the price quickly retraced after losing 8% following the new high.
Key Support level: $78
Key Resistance level: $100 (ATH), $102
AVAX has been in a clear bullish trend for some time and has set a new all-time high today at just under $100. However, so far, the bullish momentum wasn’t able to surpass the milestone level, and today’s candle might end up with a long wick to the upside.
The critical resistance level lies at the $100 – $102 range. If bulls fail to close above the resistance, we can expect a retracement to the key support level around $78.
Despite the new record, there are first early signs of weakening of the bullish trend, as per the technicals below.
AVAX Price Technical Indicators
Trading Volume: Volume was high (bullish) on this last leg higher; however, it is still lower than the volume recorded in September. A decreasing amount of volume in a