AVAX Breakout Triggers $32–35 Rally, Eyes $47 Peak
Avalanche’s AVAX has achieved a major technical breakout above a multi-month descending channel and the key AVAX/BTC resistance line. This decisive close above $26 confirms renewed bullish momentum. On-chain metrics—rising funding rates and growing open interest—highlight trader confidence and reinforce a bullish on-chain bias.
Earlier technical analysis showed strong 1-hour buy signals but medium-term exhaustion near $23.24, with AVAX consolidating around $22.80–$23.00. Key support levels at $22.60, $22.00–22.20 and $21.60–$21.80 now provide pullback opportunities for strategic entries.
Analysts project targets of $32–$35 in the next one to two weeks for Avalanche’s AVAX, with a potential peak at $47 if it sustains the $26–27 zone. Traders should watch for consolidation and manage risk during retracements while positioning for this breakout-driven rally.
Bullish
AVAX’s technical breakout above its descending channel and AVAX/BTC resistance line signals a significant shift in market sentiment. The decisive close above $26 and supportive on-chain metrics—rising funding rates and growing open interest—underline strong short-term bullish momentum. Historical mixed signals on hourly and four-hour charts gave way to renewed confidence as AVAX broke critical resistance, suggesting traders may capitalize on short-term pullbacks for entries around key support zones. In the medium term, targets at $32–35, and a potential extension to $47 if the $26–27 level holds, indicate robust upside potential. Overall, these developments point to a bullish outlook for AVAX’s price, as both technical and on-chain indicators align to support further gains.