In the ever-volatile world of cryptocurrencies, Avalanche’s native token, AVAX, has taken center stage once again. As of June 10, 2025, AVAX has surged by 4.2% in the last 24 hours, securing its place within a burgeoning uptrend channel. This recent uptick has seen the token’s price climb from $20.91 to a peak of $22.47—a notable 7.4% increase, as highlighted by CoinDesk Research’s technical analysis. However, a slight correction of 1.65% followed this rally, demonstrating the inherent volatility that comes with the territory.
Riding the Market Waves
The CoinDesk 20, which tracks the top 20 cryptocurrencies by market capitalization, excluding exchange coins, memecoins, and stablecoins, also recorded a 3.7% increase in the same timeframe. This parallel rise across the board underscores a broader market momentum. But not all tokens are created equal—AVAX’s performance has been particularly noteworthy due to two high-volume breakout periods. The first saw a 5% surge with trading volumes exceeding 1.4 million, while the second registered a 2.1% gain on a hefty 1.8 million in trading volume.
These figures aren’t just numbers on a screen; they tell a story of heightened interest and participation in the AVAX market. According to crypto analyst Jamie Wright, “The recent spikes in volume and price suggest that AVAX is attracting significant attention from both retail and institutional investors looking to capitalize on its potential.” This mirrors the broader trend of institutional interest, as seen in Bitcoin’s recent surge past $94,000.
Support and Resistance in Focus
A key aspect of AVAX’s current trajectory is the formation of strong support levels, particularly between $21.53 and $21.63. This range has acted as a safety net, cushioning the token amidst the market’s ebbs and flows. Maintaining above these crucial zones hints at a bullish sentiment among traders. However, the market is never without its surprises. In the last hour alone, AVAX experienced significant volatility, briefly touching $22.47 before retreating.
Interestingly, a temporary support zone around $21.80 to $21.82 has emerged, providing a platform for the subsequent recovery. This development has been characterized by a V-shaped recovery pattern, a classic indicator of strong buying pressure following a selloff. “The V-shaped recovery is a reassuring signal for traders,” notes crypto market strategist Lisa Chen. “It indicates that buyers are stepping in aggressively, reinforcing the uptrend.”
The Road Ahead
However, the road ahead isn’t without its potential pitfalls. While the current trend appears bullish, questions linger about the sustainability of this rally. Can AVAX maintain its momentum in the face of broader market pressures? Economic factors, regulatory news, or unforeseen events could easily sway the tides. This is reminiscent of the concerns voiced by analysts over Bitcoin’s market perception amid its rise past $95K.
As we advance into June 2025, the crypto community will be keenly observing AVAX’s performance. The token’s ability to hold above its newly established support levels will be crucial in determining its short-term fate. Moreover, market participants will be watching for any signs of emerging resistance that could stall further gains.
In a market characterized by uncertainty and rapid changes, AVAX’s recent movements add an intriguing chapter to its story. While the token has demonstrated resilience and strength, the question remains: Will it continue to ride the wave, or will the market’s unpredictable nature dictate a different path? Only time will tell, and for now, the crypto world watches with bated breath.
Source
This article is based on: AVAX Up 4.2% as It Establishes Uptrend Channel
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
