AVA Volume Spike: A 22x Candle Takes Travala's Token To $0.4227

Travala's AVA token jumped 28.6% on Binance on October 17. The AVA volume spike hit one four-hour candle, the one starting at 16:00 UTC. It traded 14.5 million tokens when 664,000 is normal. Sunday morning the token sat near $0.39, well above Friday's close.

What the AVA volume spike looked like

The daily candle for October 17 opened at $0.2943 and closed at $0.3785, a gain of 28.6%. In between it ran up to $0.4227 at the 20:00 UTC print. That print is the day's high.

Volume tells the story better than the price does. The median four-hour candle over the last 120 holds about 664,000 tokens. The 16:00 candle came in near 21.8 times that, and the 20:00 candle added another 5.3 million. The biggest earlier candle in the last 120 traded 13.0 million, so this was the largest of the stretch.

Four-hour AVA/USDT candles from Binance with swing points, a bullish order block and fair value gaps. Chart by Martin.

The size of the AVA volume spike against the token's value

CoinGecko lists AVA at about $27.4 million in market value, rank 691, with 70.2 million tokens circulating. Its 24-hour trading volume across all venues was near $50.0 million at the time of writing, roughly 1.8 times the market value. CoinGecko also shows a 68.5% gain over seven days. The all-time high is $6.45 from April 13, 2021.

A second wave, three days after the first

This was not the first burst. On October 13 and 14 AVA already jumped, and the daily high on October 14 reached $0.3387 on 41.6 million tokens. That was the busiest of the last eight days. The surge faded to $0.2685 at the close.

The new AVA volume spike cleared that earlier high with room to spare. Traders call a close above a prior swing high a break of structure. The daily chart printed one on October 15 at $0.2845, and October 17 pushed well past it.

Where the AVA volume spike sits on bigger charts

On the daily chart the trend is up. Price sits far above its 20-day average at $0.261, its 50-day at $0.234 and its 200-day at $0.224. The weekly chart is still labelled down, with a swing high of $0.332 from the week of September 14. Saturday's daily close of $0.3785 is above that line.

AVA/USDT four-hour chart on TradingView, captured at 08:17 UTC on October 18. Chart by Martin.

Two scenarios after the AVA volume spike

The upside needs a four-hour close above $0.4227. Nothing on the chart sits above it, so the next reference would be the weekly view.

The downside starts with a four-hour close under $0.3246, the bottom of a bullish gap that formed during Saturday's climb. That would put the $0.2831 to $0.2966 order block in play. It loses weight if price closes above $0.4227 first.

We have no lean on AVA. Every level here comes from closed candles, and none of it is advice to buy or sell the token.