Avalanche’s token AVAX is demonstrating short-term strength, climbing from $20.91 to a peak of $22.47, which represents a 7.4% range, according to CoinDesk Research's technical analysis model. The token then experienced a 1.65% correction. AVAX is up 4.2% in the last 24 hours. The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding exchange coins, memecoins and stablecoins — is up 3.7% in the same period of time. Technical Analysis • Two high-volume breakout periods drove significant price action: 5% surge with volume exceeding 1.4M, and 2.1% gain on 1.8M volume. • Strong support formed at $21.53-$21.63 level, with the overall trend remaining bullish as price maintains above key support zones. • AVAX experienced significant volatility in the last hour, initially climbing to $22.47 before a 1.65% correction. • Temporary support formed at $21.80-$21.82, followed by a recovery establishing an uptrend channel with higher lows. • Price action suggests a V-shaped recovery pattern with strong buying pressure emerging after the selloff. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards . For more information, see CoinDesk's full AI Policy .