• Avalanche (AVAX) holds key support levels, showing signs of bullish momentum and potential short-term upswing.
• Trading activity remains strong, with over $10 billion in volume recorded in the last 10 days.
• Technical indicators show resilience, respecting diagonal support and forming a symmetrical triangle, hinting at higher targets.

Avalanche (AVAX) is showing bullish signs as it holds key support levels. Recent trading activity indicates strong demand for the token, and technical indicators hint at an upward trend. Analysts believe a potential upswing toward higher price targets is possible in the short term.

At the time of writing, Avalanche (AVAX) is trading at $28.25, with a 24-hour trading volume of $1.11 billion and a market capitalization of $11.98 billion. Over the last 24 hours, AVAX has seen a modest 0.4% increase, showing steady market activity.

Avalanche Hits $10 Billion Volume

Crypto analyst Marc Shawn Brown reported that Avalanche has recorded more than $10 billion worth of trading activity within the last 10 days, evidencing strong market demand.

He stated that this kind of activity is an indication of steady purchasing and sales activity surrounding AVAX. This is an indication that the token may be priming up to initiate considerable price action imminently.

AVAX Shows Strong Technical Resilience Soon

In the meantime, the other crypto analyst noted that AVAX is experiencing technical resilience. The price is respecting the long-term diagonal support while ranging out in the symmetrical triangle formation.

As per his analysis, this configuration is hinting at the eventual bullish movement, with the AVAX potentially hitting $38 and beyond in the short term.

As the price remains at key levels for the price and the volumes remain substantial, most people are observing Avalanche keenly for the next upward movement.

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Crypto Community Turns Strongly Bullish

The sentiment is extremely positive, with 85% of 832.9K voters trending bullish. This is an indication of increased confidence and positivity among investors regarding the direction of the price movement. The community appears to anticipate a big bullish movement over the short term.

On the contrary, only 15% of the community reflects a bearish sentiment, reflecting minimal fear of downside risk. The small bearish percentage reflects the generally strong market and investor confidence at a sustained pace.

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