Analysts Turn Bullish on Avalanche, AVAX Ready to Explode? - Coinspeaker

Key Notes

• AVAX trades near $23.14, down 2% despite broader market gains.
• A close above $27 could spark a rally toward $43, per analyst Ali Martinez.
• Weekly breakout from a falling wedge hints at a long-term bullish shift.

Avalanche

AVAX $21.65

24h volatility: 2.4%

Market cap: $9.03 B

Vol. 24h: $343.15 M

, often called the forgotten Layer-1 that lags behind major market moves, is currently trading around $23.14, down roughly 2% in the past 24 hours.

Despite the broader crypto market seeing a major rally this month, AVAX has remained relatively slow. It recorded a small gain of just 4.5% over the past month. The 14-largest cryptocurrency remains confined within an 18-month-long descending channel, signaling persistent bearish pressure.

Analyst Ali Martinez recently noted that investors should watch for a 4-hour close above the $27 level, the mid-boundary of this channel, to confirm bullish strength. Such a breakout could pave the way toward a rally to $43.

AVAX Price Outlook

On the weekly chart, AVAX has recently broken out from a multi-month falling wedge, a historically bullish reversal pattern. This move, emerging from the $17–$19 accumulation range, suggests a potential longer-term trend shift.

Crypto analytics platform, TheCryptera, has laid out bold price targets for AVAX: $41, $52, and $61. Currently, Avalanche boasts a market cap of $9.76 billion.

On the daily chart, AVAX is trading near its mid-Bollinger Band (20-day SMA) at $23.68, which acts as a dynamic resistance. The Bollinger Bands are slightly contracting, hinting at a consolidation phase.

If AVAX can close above the upper band near $25.86, it might indicate renewed bullish momentum. However, a drop below the lower band at $21.50 could trigger further downside.

AVAX price chart with RSI and Bollinger Bands | Source: Trading View

The RSI is suggesting a neutral market sentiment. It neither confirms overbought nor oversold conditions, but an upward push above 60 may indicate bullish strength.

Meanwhile, the MACD indicator is showing a bearish crossover, with the MACD line dipping below the signal line. If the histogram flips deeper into negative territory, it may indicate a short-term downtrend.

AVAX price chart with MACD | Source: Trading View

Traders should closely watch the $27 level for confirmation of strength. Until then, AVAX may continue to trade sideways, waiting for a broader sentiment shift.

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nextDisclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.