AVAX [Avalanche] enters a pricing range that is somewhat limited

[Blv123]

AVAX was one among the cryptocurrencies that saw a large increase in value following its recent bottom. After its price cascaded to recent lows, it experienced some accumulation, which is a good indicator. Zooming out, however, it is clear that it has been trading in a falling wedge pattern and is about to break out.

After the support retest, AVAX only managed to rally modestly. This is a sign that any accumulation at recent lows was insufficient to ignite a strong upswing.

At press time, AVAX was trading at $16.31, up somewhat from its recent low of $14.58. However, it was a rally of more than 10%, making it one of the top gainers in the recent 24 hours.

NFT trading at Avalanche has also improved over the past few days. Total NFT trading volumes peaked at $ 2.27 million on June 14. This was the largest NFT trading volume in the last four weeks.