Avalanche Surges Against Market Downtrend

Over the past 24 hours, Avalanche's (AVAX) price surged by 8.68% to $58.44, reversing its weekly trend of a 4.0% decline. Despite the recent gains, AVAX remains below its all-time high of $144.96. Bollinger Bands indicate increased volatility in the past 24 hours compared to the past week, while trading volume has dropped by 60.0% and circulating supply has slightly increased. As of now, AVAX ranks 11th in market capitalization with a value of $22.16 billion.

Avalanche's Surge Amidst Broader Market Decline

The cryptocurrency Avalanche (AVAX) has experienced a significant price increase over the past 24 hours, rising by 8.68% to $58.44. This upward trajectory stands in contrast to the broader market trend, which has seen a decline of 4.0% over the past week, with AVAX falling from $60.58 to its current level.

Avalanche's all-time high remains at $144.96.

A technical analysis reveals that Avalanche's price movement and volatility have been relatively subdued over the past 24 hours, as indicated by narrow Bollinger Bands. However, over the past week, the Bollinger Bands have been wider, suggesting increased volatility.

Trading volume has witnessed a substantial 60.0% decline over the past week, while the circulating supply of AVAX has increased by 0.12%, reaching 377.42 million. This represents approximately 52.42% of its maximum supply of 720.00 million.

According to CoinGecko data, Avalanche currently ranks 11th in market capitalization, with a value of $22.16 billion.

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