The AVAX price has reached a high of $10.12 in the past 24 hours, with its climb beyond $10 making the altcoin the 20th-biggest cryptocurrency in the market by capitalization. The coin has also declined by 8% since the beginning of the year, in contrast to many other major tokens. AVAX's chart illustrates just how much the altcoin has been oversold in recent weeks, with both its price and 30-day average (yellow) some way below its 200-day average (blue). In other words, technicals alone would indicate that AVAX has to rebound strongly in the not-too distant future, since the coin is selling at a substantially discounted price.
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