BTC
$109,721.06
+
0.71%
ETH
$2,863.86
+
4.98%
USDT
$0.9999
–
0.02%
XRP
$2.3260
+
2.04%
BNB
$669.43
+
1.27%
SOL
$167.19
+
5.73%
USDC
$0.9996
–
0.01%
DOGE
$0.2032
+
6.27%
TRX
$0.2894
–
0.84%
ADA
$0.7254
+
4.32%
HYPE
$43.54
+
8.54%
SUI
$3.5117
+
1.86%
LINK
$15.61
+
3.46%
AVAX
$22.57
+
3.01%
BCH
$444.35
+
3.55%
XLM
$0.2825
+
2.40%
LEO
$9.0230
+
1.57%
TON
$3.2933
–
0.91%
SHIB
$0.0₄1358
+
4.49%
HBAR
$0.1795
+
0.04%
By CD Analytics, Tom Carreras|Edited by Sheldon Reback
Jun 11, 2025, 2:59 p.m.
- Avalanche’s AVAX token has established strong support around the $22 level, successfully defending against multiple downward tests.
- AVAX has risen 4% in the last 24 hours, outperforming the CoinDesk 20 index, which increased by 2.5%.
- The formation of higher lows indicates an emerging uptrend, with resistance at $22.57.
Avalanche’s AVAX
token has established strong support around the $22 level, successfully defending against multiple downward tests, according to CoinDesk Research’s technical analysis model.
AVAX is up 4% in the last 24 hours, outperforming the CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins and exchange coins — which has risen 2.5% in the same period of time.
STORY CONTINUES BELOW
Technical Analysis
• AVAX established a key high-volume support zone around $22.00 that successfully defended against multiple tests.
• Price action showed a 3.89% range from the low of $21.62 to the high of $22.64, indicating moderate volatility.
• Most significant price movement occurred with a 2.44% increase in volume, 2.8x higher than the 24-hour average.
• Formation of higher lows throughout the period confirms an emerging uptrend with resistance at $22.57.
• A 1.7% decline in the last hour from $22.43 to $22.05 before staging a moderate recovery.
• Notable 5.9% slide on exceptionally high volume (nearly 3x the hourly average).
• New support zone established around $22.20-$22.25 with price consolidating in this range.
• Volume patterns indicate distribution during decline and accumulation during recovery phase.
• $22.40 level now serving as immediate resistance.
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.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.
Tom writes about markets, bitcoin mining and crypto adoption in Latin America. He has a bachelor’s degree in English literature from McGill University, and can usually be found in Costa Rica. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
