- A technical breakout signals potential further gains if support at $18.38 holds.
- An upward move above this support point could start a stronger price acceleration yet rejection might cause price stabilization.
- AVAX continues to attract more investors as both RSI rises and trading volume increases continuously.
Avalanche (AVAX) has demonstrated strong upward momentum, surging 11.55% to $21.78 within the past 24 hours. The cryptocurrency is experiencing a technical breakout from a falling wedge pattern, suggesting potential further gains if key support levels hold. The market price movement demonstrates both a fundamental sector recovery together with growing consumer demand for AVAX.
Source:Coinmarketcap
Technical Analysis and Chart Breakdown
The 4-hour AVAX/USDT chart reveals a falling wedge formation, a classic bullish reversal pattern. A descending resistance and support formation on this chart occurs when levels draw closer to each other until a breakout takes place. Market participants experienced a recent breakout that occurred at the $18.38 price mark which now establishes itself as a vital support point for potential price growth.
Source:(X)
Currently, $18.38 serves as a key support level—as long as AVAX holds above this mark, it could sustain its bullish trajectory.. Between $23 and $26 stands as the next major price area that may generate selling activity. A decisive breakout above this range could pave the way for higher price targets.
If the support level at $18.38 fails to hold then the bullish outlook will become less valid and the price may return to the lower support range of $16. The upcoming price levels will serve as important indicators for traders to determine how strongly AVAX maintains its present momentum.
Indicators and Future Outlook
The Relative Strength Index (RSI) shown on the chart reveals momentum shifting toward an uptrend because buying pressure keeps increasing. The ongoing breakout receives backing from volume analysis since accumulation has been on the rise. The ongoing buying pressure suggests AVAX will keep ascending toward $23-$26 from its current resistance level.
If Avalanche successfully maintains vital support levels its recent breakout might indicate additional upward price growth. Market participants are analyzing if AVAX can maintain its position above $18.38 and surpass the $23-$26 resistance levels as it continues to gain strength.
