Why Is Avalanche (AVAX) Price Up? Breakout Fuels 8% Rally
AVAX jumps 8% past resistance as short squeeze and altcoin rotation build momentum. Here’s what’s driving the breakout.
Avalanche is having a rare standout day. AVAX climbed 8.05% to $6.74 in the last 24 hours, according to data from CoinMarketCap.
That move dwarfs Bitcoin’s modest 1.02% gain over the same stretch.
Traders are pointing to a technical breakout as the main driver. A short squeeze and fresh capital flowing into altcoins may be adding fuel.
Read also – Avalanche’s 1,326% Upside Case: Is Selling AVAX Now a Huge Mistake?
Technical Breakout Drives AVAX Price Surge
As per CoinMarketCap, AVAX broke above a descending channel on the 4-hour chart, a pattern that had capped price for weeks. Trading volume spiked 59% to $377 million in 24 hours, signaling real buying interest behind the move.
The 14-day RSI jumped to 69, a level that typically points to strong bullish momentum. The MACD also flipped bullish, confirming the shift in short-term trend.
Together, these signals suggest spot buyers pushed through a key resistance zone rather than a thin, low-volume pop.
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