Avalanche (AVAX) is gaining today as it seeks to retain its gains in the last 24 hours. Its trading volume is up by over 18% today, possibly sustaining its price recovery attempt. Notably, AVAX entered the month of May with a bullish momentum trading at $16.66 on May 1, 2023. However, the bears have kept AVAX’s price at $14 since May 18. AVAX is gaining today, forming a higher high on the daily chart. The bulls are intent on mounting a recovery rally. However, the bears are still active in the market. Since AVAX still trades below its 50-day and 200-day Simple Moving Averages (SMA), the asset will likely see a further price decline.
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