Avalanche correction risk rises after AVAX price soars 80% from January lows By Cointelegraph

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Avalanche’s (AVAX) recovery extended into its third week, primarily in the wake of similar upside retracement across the top crypto assets.

On Thursday, AVAX’s price rallied by nearly 16% to reach $96.50, its best level since Jan. 14, 2022. The massive intraday move came as a part of a recovery that started Jan. 22, after the Avalanche token bottomed out near $53. As a result, AVAX’s net rebound came out to be more than 80%.

daily price chart. Source: TradingView
Avalanche 2021 total value locked versus competitors. Source: TradingView
AVAX/USD daily price chart featuring falling channel. Source: TradingView