Avalanche (AVAX) Rebounds Off $6 Support as Buyers
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Avalanche (AVAX) Rebounds Off $6 Support as Buyers Eye Breakout Toward $7
Avalanche has gained over 6%, trading at $6.
$AVAX’s daily trading volume is up by 42%.
As of August 4, Avalanche ($AVAX ) is trading at around $6.81, up 6% on the day, with the trading volume surging by over 42%, settling at $326.48 million. The asset has spent months bleeding into the black demand zone, but now the chart is shifting.
With the bearish pressure in the early hours, the $AVAX price was pushed down to the $6.42 level. After the change in momentum, it likely tested and broke the crucial resistance and gradually climbed to a high of $6.95.
Instead of extending the decline with fresh momentum, each monthly candle has been showing reduced downside pressure while defending the same base. On the shorter timeframe, a double bottom is taking shape. Two strong reactions around the $6.77–$6.79 support zone show buyers stepping in aggressively at the same level twice.
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