Avalanche (AVAX) has been consolidating and, recently, found significant support in the area of $15.46, which is an important price point that has served as support previously. The price has turned the $20.42 level into support in the last week, and that has been the most important marker since last summer. This is indicative of AVAX preparing for a possible breakout, with traders looking closely to confirm further.
At the time of writing, AVAX is trading at $20.70 with a 24-hour trading volume of $234.01M and a market cap of $ 8.65B. This indicates a temporary slowdown or hesitation in market activity. The price of AVAX has been affected by market volatility, declining by 2.78% in the past 24 hours, 5.71% over the past week, and 16.13% over the past month.
AVAX targets $29–$37 as bullish momentum builds
A crypto analyst highlighted that Avalanche (AVAX) has been consolidating and hit strong support last week at $15.46, which is an important price point that has served as a support point previously. The price has turned the $20.42 point into support in the last week, and that has been one of the key markers since last summer. This is a sign from the charts that shows that AVAX is preparing to break out, and investors are looking closely for the next confirmation.
The Relative Strength Index (RSI) and the Stochastic RSI indicators are both trending upward, and that implies increasing buying pressure is underway. With the momentum turned upside, price targets between $29.36 and $37.05 are in view from the perspective of the experts. These are robust resistance points where AVAX may see some pullback but are also the milestones that everyone wants to witness in the upcoming weeks.
However, it’s important to be careful. The $20.42 mark is crucial—if AVAX slips below this, it may return to the range of $15.46. This will indicate that the current upward movement is faltering, and the price may decline. Currently, investors are hopeful that AVAX will continue to rise and move towards higher levels in the near term.
