Summary
•
tested 12.40–12.45 resistance before breaking to a 24-hour high of 12.59.
• Volume surged in the 16:00–17:00 ET window, confirming strength near 12.55–12.59.
• RSI reached 68, suggesting near-overbought conditions, while MACD remained bullish.
• Bollinger Bands expanded as volatility increased after 14:30 ET.
• A bullish engulfing pattern formed around 14:30 ET, reinforcing the upward bias.
Avalanche/Tether (AVAXUSDT) opened at 12.34 at 12:00 ET-1 and closed at 12.58 at 12:00 ET, reaching a high of 12.59 and a low of 12.33. The total volume was 638,426.88, with a notional turnover of $7,890,899.32.
Structure & Candlestick Formations
Price action displayed a clear push above the 12.40–12.45 resistance zone, supported by a bullish engulfing pattern at 14:30 ET. This pattern suggested a short-term reversal and continued buying pressure. A 12.55–12.59 ceiling appeared key, with a potential pullback into the 12.43–12.48 range expected.
Moving Averages and Momentum
The 5-minute 20- and 50-period moving averages were in bullish alignment, while the daily 50- and 100-period lines showed a flattening trend. RSI peaked near 68, signaling near-overbought conditions, and MACD remained positive with rising momentum.
Volatility and Bollinger Bands
Volatility expanded after 14:30 ET as Bollinger Bands widened, with price sitting near the upper band. This indicated heightened bullish conviction, though a retest of the 12.45–12.50 range could see a contraction if buyers show fatigue.
Volume and Turnover
The largest volume spike occurred between 16:00 and 17:00 ET, coinciding with a 12.55–12.59 price increase. Notional turnover also surged during this period, supporting the breakout above key resistance.
Forward Outlook and Risk Note
The 12.55–12.59 zone could act as a pivot area in the next 24 hours; a close above 12.60 may signal further upside. However, a drop below 12.45 could trigger a retest of 12.40–12.43, where short-term support may hold. Investors should monitor volume behavior for confirmation.
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