- Avalanche (AVAX) surged 12.88% from its recent low of $18.14, showing signs of recovery.
- AVAX flips resistance into support, trading above the 50-day EMA ($18.80) and 200-day EMA ($22.20), signaling bullish momentum.
As the global crypto market sees a slight uptick, with Bitcoin (BTC) climbing to $87K after a week, leading altcoins are also showing signs of recovery, including Avalanche (AVAX), which is attempting to reclaim its previous price range. AVAX price is making waves with a 12.88% rebound from its recent low of $18.14. This has sparked optimism among traders, but the real question remains: Can AVAX sustain this momentum?
AVAX Price Gains Strength After Finding Support
Currently, AVAX is trading around $23 after finding strong buying interest between $15 and $18. On the 4-hour chart, technical indicators show bullish momentum, with the RSI hitting 80.73, suggesting that buyers are in control. Additionally, AVAX has broken past key resistance levels on the daily chart, flipping the 50-day EMA ($18.80) into support and trading above its 200-day EMA ($22.20). This signals a potential long-term uptrend.
Another promising sign is the MACD, which has turned bullish, hinting at a possible continuation of this rally. However, there’s an important hurdle ahead—the 0.5 Fibonacci retracement level at $21.86. This zone will determine whether AVAX can push further or face rejection.
Adding to the excitement, investment giant VanEck has recently registered an Avalanche ETF in Delaware. While it still awaits SEC approval, this move aligns with the growing interest in crypto ETFs, including those for XRP, Solana (SOL), and Litecoin (LTC). If approved, this could give AVAX a significant boost.
Despite these positive signals, AVAX is still far from its all-time high of $146.22. For the bullish trend to hold, the token must break above $25 and sustain its position. If momentum fades, a drop to $18.45 could be on the cards, with further downside risk to $15 if selling pressure intensifies.
In the coming days, AVAX will be at a crucial turning point. A successful breakout could open doors to the $25–$30 range, while failure to hold key levels may lead to a deeper correction.
