Avalanche's AVAX Token Surges 10.7% to 20.89 on Bullish Momentum

AVAX, the native token of the Avalanche blockchain, has shown significant bullish momentum in recent trading sessions. The token surged from 18.87 to 20.89, marking a 10.7% gain. This upward movement is supported by a clear bullish trend, with higher lows forming a strong support trendline around 19.50.

On April 20, AVAX consolidated between 19.30 and 19.70, but the following day saw a substantial breakout. The price pushed above 20.00 with a notable increase in volume, indicating strong buying pressure. This breakout was further reinforced by the formation of a bull flag pattern in the most recent 48 hours, with a decisive move above 20.40 suggesting further upside potential.

The key resistance level to watch is now at 20.90, with Fibonacci extension targets pointing to 21.50 as the next significant objective. In the last 100 minutes, AVAX surged from 20.61 to 21.04, representing a 2.1% gain. This upward momentum was preceded by a consolidation phase between 20.50 and 20.60 during the 13:20-13:40 timeframe, where the price formed a solid base before initiating a powerful upward move.

The decisive breakout occurred at 14:40 with extraordinary volume, creating a strong support level at 20.80. Multiple high-volume candles followed between 14:44 and 14:48, pushing the price through the critical 21.00 psychological barrier. The highest volume spike of 142,112 units was recorded at 14:47, completing the bullish pattern established in the previous 48 hours.

This recent price action suggests that AVAX is poised for further gains, with the next significant objective being 21.50 according to Fibonacci extension targets. The strong momentum and high-volume breakouts indicate a bullish sentiment among traders, who are likely anticipating further upside potential in the near term.