- Analyst projects a potential AVAX rally exceeding 1,100% toward its previous all-time high.
- Michael van de Poppe identifies AVAX’s current price region as an accumulation zone but notes weak buying momentum.
- AVAX trades at $8.53, above $8.39 support but below its $9.20 200-day moving average resistance.
Analyst Javon Marks projected a potential Avalanche (AVAX) rally exceeding 1,100% toward its all-time high. However, AVAX traded at $8.531 on November 11, below its September peak of $11.90. Meanwhile, Michael van de Poppe identified the current price region as an accumulation area.
Analysts Highlight AVAX’s Potential Recovery
Javon Marks suggested AVAX could prepare for a substantial move toward its previous all-time high. His projection places the potential increase above 1,100%. Meanwhile, Michael van de Poppe pointed to a recent upward bounce but noted the absence of continued buying momentum.
He described the current price region as an area where investors might accumulate. Van de Poppe also observed that positive developments had not produced a strong rally in AVAX. He suggested that stronger price movement could emerge later.
AVAX Corrects After September Rally
The price chart shows AVAX declining from approximately $9.80 toward $6.00 during late May and June. The token subsequently consolidated between $6.00 and $6.60 before recovering in late August.
The recovery accelerated in September, pushing AVAX to approximately $11.90 around September 17. However, momentum weakened afterward, extending the correction through November 11. AVAX currently trades slightly above its 50-day moving average of $8.39.
Nevertheless, it remains below the 200-day moving average at $9.20. Trading volume stands near $350.95 million. Notably, volume increased during the August–September rally and recent trading activity.
$8.39 Support and $9.20 Resistance Define AVAX Levels
The $8.39 level represents immediate support for AVAX. A breakdown below this level could expose the token to $8.00 and subsequently $7.30. On the upside, $8.90 represents initial resistance.
However, the $9.20 level carries additional importance because it coincides with the 200-day moving average. A sustained breakout above $9.20 could open the way toward $10.00. Meanwhile, declining 50-day moving average levels reflect weakening momentum since October.
The next price movements will depend on whether buying volume strengthens enough to overcome the broader bearish pressure.
