Avalanche's native token, AVAX, is currently at a critical juncture as it tests a support level near its Fair Value Gap (FVG). Traders are keenly observing the price action, which may indicate a potential short-term rebound. The publication provides the following information:
Current AVAX Trading Status
As of now, AVAX is trading at approximately 1243, marking a slight decline of 0.23% over the past 24 hours.
Market Analysis
The token has been demonstrating signs of support around the FVG, suggesting that a reversal of its recent downtrend could be on the horizon.
Potential Price Target
If the price successfully bounces from this support zone, it could aim to reach the target of 1318, providing traders with a potential opportunity for profit.
Earlier today, Cardano (ADA) showed signs of a potential rebound, highlighted by a bullish engulfing candle on its 12-hour chart. This development contrasts with Avalanche's current testing of support levels. For more details, see further insights.
