- $48 resistance holds the key for Avalanche’s next big move.
- Stochastic Oscillator warns of overbought levels for AVAX ($16.22).
Avalanche [AVAX] was priced at $45.28 at press time, reflecting a 3.60% increase in the past 24 hours.
The market cap was $18.53 billion, with a 24-hour trading volume of $827.93 million.
Over the past day, AVAX has fluctuated between a low of $43.37 and a high of $45.95.
While the token has made significant strides recently, its all-time high of $146.22, reached on the 21st of November 2021, remains far out of reach, marking a 68.89% decline from that peak.
$48 resistance stands in the way
Avalanche displayed a volatile performance in 2024, starting the year with a slight drop before hitting its yearly high in March at $65.26.
This peak marked a strong start to the year, driven by bullish sentiment and increased activity.
However, from March onward, AVAX experienced a steep decline, losing 72% of its value and hitting its yearly low of $17.72 on the 5th of August.
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