Avalanche (AVAX) is gaining bullish momentum after reclaiming a key long-term trendline, while rising buying pressure supports the recovery. At the same time, stronger network activity and increased transaction fees highlight growing on-chain usage, adding further support to Avalanche’s improving market structure and broader recovery.
As of now, according to CoinMarketCap data, AVAX is trading at the price of $11.13, up 0.28% on the day despite a 50.14% increase over the past week.
Avalanche Eyes Further Gains After AVAX Regains Multi-Year Trendline
According to a prominent crypto analyst, Kamran Asghar, Avalanche may have staged a false breakdown after briefly slipping below its multi-year trendline. The token quickly reclaimed the structure, showing that sellers failed to maintain control.
The recovery has now been followed by a stronger upward move, with AVAX showing signs of renewed buying pressure. Kamran Asghar has highlighted $110 as a potential longer-term target if the current momentum continues to strengthen.
The trendline reclaim is notable after AVAX spent a long period trading beneath the descending resistance structure. A brief breakdown followed by a quick recovery can signal that the initial bearish move lacked sustained selling pressure.
AVAX still needs to defend the reclaimed trendline through upcoming pullbacks. Holding above the level could keep the recovery structure intact, while a sustained break below it would weaken the bullish setup and increase the risk of renewed selling pressure.
Avalanche Network Revenue Jumps Near $20K as On-Chain Activity Rises
The data from Chainspect further shows that Avalanche (AVAX) ended the weekend on a strong note, recording nearly $20,000 in transaction fees on September 20. This marked the network’s highest daily revenue of the week, highlighting a notable rise in on-chain activity toward the weekend’s close.
Avalanche’s revenue stayed fairly low during the first half of the week before gaining momentum. It reached about $5,000 on September 15, fell on September 17, and then moved higher in the following days as network activity picked up.
The strongest move came toward the weekend, with daily revenue rising sharply on September 19 before reaching approximately $19.88K on September 20. The jump represents a significant improvement from the week’s earlier levels and highlights increased transaction activity and fee generation across the Avalanche network.
