- Price is holding above a critical $20.50 support level.
- Chart signals like a double bottom and trendline breakout suggest more upside.
- Price targets: $71 and possibly $108 if momentum kicks in.
Avalanche (AVAX) is doing its own thing again—staying bullish while most of the market takes a breather. Even with a slight 4% dip in the past 24 hours, the token’s up over 15% on the week. That’s not nothing. Especially when everything else seems kinda shaky.
Volumes are fading a bit, sure. But the broader picture? Still leaning optimistic. That drop-off might just be hesitation, not actual weakness. People are watching… just maybe waiting for the next clear move.
AVAX Defends Key Levels—And That Matters
Right now, AVAX is sitting at about $20.78. Trading volume’s cooled down to $538 million in the last day—down roughly 11%—but the market cap’s holding its ground around $8.77 billion. Not much panic selling going on here.
If AVAX can stick above that $20.50 support level, it keeps the ball in the bulls’ court. That zone’s become kind of a line in the sand. Dip below and, yeah, things could get messy. But stay above it, and the setup still screams “upside incoming.”
Chart Watchers Spot Bullish Patterns
Looking at the weekly chart, there’s definitely a shift happening. AVAX popped through that $20 barrier and hovered between $20.80 and $21.60 for a bit. That was likely profit-taking, but nothing dramatic enough to break the trend.
There was a brief rejection at $22, pulling the price down a bit. Still, the structure looks fine—bullish even—as long as support holds. There’s a double bottom forming right near $20.69, which is typically a classic bullish signal. Plus, we just saw a clean breakout through the downtrend resistance line. All that points to fresh demand possibly on the way.
What’s Next? Could Get Real Interesting
If this reversal sticks, AVAX could be prepping for a serious leg up. The first target? Around $71. That’s a monster 243% from current levels. A second target, if things go really well, would be $108. That one’s more ambitious—but not out of the question if the market heats up again.
And don’t forget, AVAX flashed similar strength back in May with that cup-and-handle pattern. The ingredients are here again: strong support, bullish structure, and a market that’s maybe just catching its breath before another run.
