Avalanche Breakout: AVAX Aims $30 on Channels & Spot ETF
Avalanche breakout continues to fuel a bullish AVAX price trend, with the cryptocurrency forming higher highs and rising channels and holding above the $22.50 support level. Market analyst HolderStat anticipates that a break above $26.00 could confirm further strength, targeting the $26–$27 range and ultimately $30. The extended consolidation—a hallmark of the Avalanche breakout pattern—signals another potential surge. Having paused for 212 days, longer than the 147-day base that preceded an 80% rally, AVAX appears primed for renewed momentum. Additionally, Grayscale’s SEC filing to convert its Avalanche Trust into a Nasdaq-listed spot ETF could attract institutional inflows, reinforcing bullish momentum. Traders should monitor key levels at $22.50 for support and $26.00 for breakout confirmation.
Bullish
The news highlights multiple bullish indicators for AVAX, including rising channels, consistent higher highs and a critical $22.50 support hold that underpin a continued uptrend. Historical parallels—specifically the 147-day consolidation that preceded an 80% rally—suggest the current 212-day base may trigger a similarly strong breakout. Furthermore, Grayscale’s spot ETF filing could catalyze institutional demand, reinforcing both short-term momentum and long-term bullish sentiment. These factors collectively signal a positive outlook for traders, supporting a bullish market stance.