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By CD Analytics, Tom Carreras|Edited by Stephen Alpher
Jun 24, 2025, 3:55 p.m.
- Avalanche’s AVAX surged 8.2% in 24 hours, establishing strong support at $18.03, but facing resistance at $18.47-$18.50.
- The CoinDesk 20 index rose 6.3% during the same period, reflecting broader market gains.
Avalanche’s AVAX has surged 8.2% in 24 hours, climbing from $16.29 to $18.50, establishing strong support at $18.03, but facing resistance at the $18.47-$18.50 zone, according to CoinDesk Research’s technical analysis model.
The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, excluding stablecoins, memecoins and exchange coins — has risen 6.3% in the same period of time.
STORY CONTINUES BELOW
Technical Analysis
• The price action formed a clear uptrend with higher lows establishing support at $18.03, while significant volume spikes at the $17.40 and $18.07 levels confirmed strong buyer interest.
• A notable resistance zone emerged around $18.47-$18.50, where profit-taking occurred after the initial surge, though the asset maintained most of its gains and appears poised for further upside if it can break through this level with sustained volume.
• In the last 60 minutes, AVAX exhibited notable volatility with a clear downtrend, falling from $18.24 to $18.19, representing a 0.28% decline.
• The asset experienced significant price swings, reaching a high of $18.64 before encountering strong selling pressure that drove prices down to $18.14.
• A brief recovery attempt formed with three consecutive green candles, but this rally failed at resistance, confirming the bearish sentiment that has dominated the latter part of the session.
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.
