Avalanche, or AVAX for short, continues to fluctuate around important price levels recently. Avalanche, which is rapidly growing in the cryptocurrency market and offers decentralized finance and cross-chain compatibility, is closely followed by investors. Currently, the price of AVAX is stuck in a distinct band between $8.20 and $10.50. The expectation of when and in which direction this contraction will break has become the focus of investors.
Pressure is increasing above the critical price band
Market analysts note that AVAX has repeatedly risen from the base level and been rejected at the top in this range, but each attempt strengthens the possibility of a resistance break. Especially the fact that the price has approached $ 10.50 again in recent days offers signs that there may be a sharp upward movement in a short time. If AVAX can exceed this level in volume, the first target will be $ 12.70, followed by $ 13.90. However, if it rebounds from resistance, it would not be surprising for the price to drop to $9.00 or even $8.20.
The charts shared by Trader Symba reveal that the price remains within this band and the breakout pressure increases as it approaches the top levels.
AVAX has been frequently testing the $10.50 resistance recently, indicating increasing pressure before a breakout.
Higher lows, stronger buyer interest
In the last wave of price movements, it seems that buyers stepped in earlier in rapid pullbacks. The formation of higher lows, especially above the base of $ 8.20–8.50, indicates that the selling pressure has weakened and an upward attempt may be in the preparation phase. CryptoAppsy According to data, AVAX gained 3.88 percent in value in the last 24 hours, rising to $ 9.35.
Although this structure does not yet give a clear breakout signal, the gradual approach of the price to the resistance level is generally interpreted as a harbinger of the expected jumps.
Noticeable recovery traces on long-term charts
According to analyst Crypto Patel’s posts, AVAX is holding just above a strong accumulation zone in the range of $ 8.5–9.5 in the long term. This band was repeatedly met with buying interest in past cycles and subsequently paved the way for increases exceeding 2,000 percent. Nowadays, its pricing at the same levels continues to be monitored for a possible strong recovery.
According to the chart, it can be seen that the first major target for the rise is the range of $ 23.5-32.7, according to the Fibonacci retracement levels, and in the longer term, higher targets such as $ 57.9, 114.5 and then $ 191-200 are on the agenda. However, the main condition for this scenario is to protect the green support zone.
Evaluations of the analyst Trading Nomadic reveal that AVAX has formed a rising bottom three times in the $ 8-9 region. If this structure continues, the price is likely to target the 13-21 dollar range in the first place. Of course, this requires a strong breakout above $10.50 first.
Institutions and on-chain moves: Interest in AVAX continues
Apart from the price movements surrounding AVAX, the full-fledged growth efforts in the ecosystem also attract attention. US-based investment company Bitwise’s launch of the Avalanche ETF signaled that AVAX has become a more serious asset among institutional investors. Although this step may continue to fluctuate in the short term, it may have a supportive effect on the price in the long term.
In addition, analyst Nazoku, who tracks on-chain data, shared that a single wallet address has accumulated approximately two million AVAX continuously for seven months. Although it has been seen that this asset has recently sold $ 3.3 million at 703 thousand and before, an AVAX position worth $ 12.7 million in total is still in the wallet. Unlike mass sales, these moves generally confirm the medium-to-long-term accumulation trend.
Eyes on the $10.50 threshold level
All indicators show that AVAX is at a critical point in both the short-term sideways range and the long-term support zone.
The levels that need to be carefully monitored here are as follows:
- $8.20–$8.50: Strong support zone
- $10.50: The main resistance that triggered the breakout
- $12.20–$12.80: First upside target if resistance is breached
If AVAX price can sustain above $10.50, a band widening and the start of a new upward trend is expected. Otherwise, it seems likely that the market will spend time consolidating and remain in this range until new momentum emerges.
