AVAX rally gains momentum with breakout above key resistance
Avalanche (AVAX/USDT) posted a strong 10% daily surge, climbing to $33.30 as bulls pushed the token beyond critical resistance levels. The sharp move comes on rising trading volumes, reinforcing confidence among investors that AVAX could sustain its momentum in the near term.
On the 4-hour chart, AVAX broke through the $30–$31 resistance zone, which has now turned into a fresh support level. The breakout also follows a prolonged consolidation phase, with price previously holding between $23.50 and $26.00, forming a solid base before the current rally.
“Avalanche is displaying a classic breakout structure,” BITX market analyst explained. “If the token holds above $31, we could see a continuation toward the $35–$38 range, where the next resistance sits.”
The surge also coincides with a rise in volume, a key confirmation that the move is supported by genuine buying pressure. Analysts highlight that volume spikes during upward price action often signal the start of sustained bullish cycles.
Technical indicators further support the bullish case. AVAX has been trading above its short-term moving averages, while momentum oscillators point toward strong buyer dominance. “A pullback is possible after such a quick move, but as long as AVAX maintains the $30 support, bulls remain in control,” BITX expert noted.
In the event of a retracement, AVAX has multiple layers of support. The $30 zone is the most immediate, followed by deeper support levels around $26 and $23.50. On the upside, breaking above $34 could open the door to the $36–$38 resistance range, and beyond that, the possibility of testing the psychological $40 mark.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.