Avalanche resists the general market decline and AVAX surges by 10% while many cryptocurrencies recorded significant losses, Avalanche managed to stand out by registering a rebound of 10% in its AVAX token, recovering from the bearish trend that impacted the crypto market as a whole.
The momentum seems to be supported by several factors that interact synchronously. Firstly, there are positive technical signals. AVAX bounced from relevant support levels, consolidating a base that had shown weakness in previous days.
In addition, a higher trading volume helped validate the movement, making it clear that it was not an isolated bounce. Another key component has been the accumulation by medium and large investors.
By reducing the immediate available supply, at least temporarily, buying pressure has increased, which favors upward movements fading away.
Structured products and players with crypto exposure seem to have directed part of their actions towards AVAX, taking advantage of the general market decline generating more attractive prices for accumulation.
However, this momentum could face
resistance at nearby levels where there are concentrated sell orders.
If AVAX manages to overcome those obstacles convincingly, it could project towards new resistance levels.
$AVAX
