Avalanche (AVAX) trades at $23.82 after a 3.57% decline over the past 24 hours. While prices decreased, the 24-hour trading volume surged 118.81% higher, reaching $941.54 million. That suggests more investor interest and validates the fact that traders remain on high alert and are ready for potential AVAX market movements.
The market capitalization stands at $10.02 billion, confirming AVAX as a key player in crypto. Short-term profit-taking or slight corrections are indications of the price fall. Fresh buying, however, can prompt recovery, as suggested by the increase in volume. Prices are being watched against major areas of support in the near term by traders.
Crypto analyst Neenja Trader reports that AVAX is fast approaching a key inflection area, pushing up against resistance just below the weekly EMA50. This level has persistently topped recent upswings. A breakout above it successfully may be the turning point for bullish sentiment on AVAX markets.
Technical patterns indicate potential breakout
The daily Bollinger Bands show AVAX squeezing toward the upper band, signaling possible volatility expansion. If price flips resistance into support, it could open a path toward the mid-to-high $30s. Traders are monitoring this closely, as momentum at this juncture could define the next phase of the rally.
AVAX’s overall structure remains resilient, with higher lows forming over recent weeks. Bullish cycle targets and higher search interest add positive sentiment. Both of these sentiments and tech metrics suggest Avalanche is quietly accumulating toward a potential breakout shortly.
Avalanche eyes breakout beyond $27 resistance
The $23 to $24 support level remains critical. As long as AVAX is above this level, the setup remains bullish. Crypto analyst Ali Martinez mentioned that the breakout above $27 could spark aggressive expansion, fueled by retail interest and cycle-driven optimism. Traders view these technical setups as a green signal for potential upward momentum.
Avalanche is emerging as an altcoin to watch. Retail demand, geometrical patterns on charts, and cycle predictions are all due for renewed advancements. A conclusive break above $27 has the ability to unlock targets within the realm of $32 and $37, and longer-term scenarios point within the realm of $150 and $200, if the general trend is favorable.
Retaining above $23 to $24 is necessary for the continuation of the bullish trend. AVAX still has room available towards the breakout, and both the technical and sentiment sides are signaling for further gain. Traders and investors are recommended to be cautious towards resistance and support zones closely for confirmation of the next moves.
