The consolidation within the market continues as Bitcoin remains within a narrow range. Meanwhile, the altcoins also face a small pullback, including Avalanche, whose price has dropped from the local highs at $26.88. In the times when the token has been experiencing equal bullish and bearish pressure, here’s what to expect from the AVAX price rally in the next couple of weeks.
The volatility of the token has increased ever since the price jumped above horizontal consolidation during the last quarter of 2024. Meanwhile, despite the correction that followed, the market participants appear to remain extremely bullish over the token, as the network’s high-speed subnets have been a game changer. Therefore, the AVAX price is believed to rise to $0.26 in the next 10 days if the momentum continues to build.
Despite the bearish pullback, the Gaussian channel remains bullish, which keeps the bullish possibility alive. The price is testing one of the crucial supports at $22.75, which has been acting as a strong resistance to clear since March. However, the MACD shows a drop in the buying pressure with a possibility of a bearish crossover. However, the levels remain within the bullish range, which keeps the hopes of a bullish reversal alive.
Hence, the Avalanche price is believed to test the average bands of the rising parallel channel of around $21.45 that could offer a strong base to trigger a rebound. Meanwhile, a rise above $28 could only elevate the levels above the bearish influence and a rise above $30 could reinstate a bull run to $50.
