|

AVAX price prepares to launch 25% as altcoins take center stage

  • AVAX price shows the formation of equal lows at $23.48, indicating the start of a potential rally. 
  • A spike in buying pressure could see Avalanche rise by 26% to retest the $30.48 resistance level.
  • A daily candlestick close below the recent swing low at $19.54 will invalidate the bullish thesis.

AVAX price looks ready to trigger a run-up as it creates stable launching pads. This development comes after Avalanche bulls have managed to produce a string of higher lows and higher highs since June 19. 

AVAX price does not lack momentum

AVAX price has produced not one but four higher lows and three higher highs since June 19, which has pushed it up by 77% to where it currently trades - $23.97. Moreover, Avalanche seems to be preparing for more gains as it creates equal lows at $23.48.

A bounce off this level or the immediate support level at $22.53 could trigger an upswing. The first hurdle for bulls will be to produce a higher high above the July 20 swing high at $26.36. A strong surge in buying pressure will be able to breeze through this level.

Hence, investors can expect AVAX price to reach the $30.25 hurdle smoothly. This move would constitute a 26% upswing from $23.48 and 34% from $22.53 and is likely where the upside is capped for Avalanche.

AVAX/USDT 4-hour chart

AVAX/USDT 4-hour chart

On the other hand, if AVAX price breaks down the $22.53 support level, it will indicate a weakness among buyers and also suggest the possibility of a trend change favoring bears. The confirmation of such a development will occur after AVAX price produces a daily candlestick close below the July 27 swing low at $19.54.

This move will produce a lower low and invalidate the bullish thesis. In such a case, a failure to recover by buyers will potentially lead to a further crash to the $16.10 support level.

Author

Akash Girimath

Akash Girimath is a Mechanical Engineer interested in the chaos of the financial markets. Trying to make sense of this convoluted yet fascinating space, he switched his engineering job to become a crypto reporter and analyst.

More from Akash Girimath
Share:

Editor's Picks

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.

Bitcoin, Ethereum, and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Ethereum Price Forecast: FG Nexus continues distribution amid signs of returning risk-on sentiment

FG Nexus, once dubbed an Ethereum treasury firm, resumed offloading the top altcoin on Wednesday, distributing 7,550 ETH, according to data from smart money tracker EmberCN.

Top Crypto Gainers: Stable and Decred rally, Pippin approaches record highs

Altcoins, such as Stable, Decred, and Pippin, are extending gains so far this week, defying the risk-averse conditions in the broader cryptocurrency market. Stable and Pippin are near record high levels, while Decred extends its breakout rally above $30.

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: Another month of losses, and it’s been five

Bitcoin (BTC) price is stabilizing around $68,000 at the time of writing on Friday, but the Crypto King is poised to close February on a fragile footing, marking its fifth consecutive month of losses since October and a rare start to the year with back-to-back monthly corrections.