Avalanche Set for Bullish Resurgence, Poised to Break $29.35 Resistance Level

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Avalanche (AVAX) has regained traction, showing signs of a potential bullish resurgence as it approaches a key resistance level at $29.35. After a period of consolidation, AVAX’s price action hints at a possible breakout, which could trigger a strong upward movement. With technical indicators showing signs of strength, the market’s focus now shifts to whether Avalanche can sustain this upward momentum and push past the $29.35 barrier for a sustained move higher.

Following the bullish comeback at $25, AVAX’s price on the 4-hour chart has continued to gain strength, surging toward the $29.35 resistance level. Trading above the 100-day Simple Moving Average (SMA), AVAX suggests a positive upward trend that could lead to a potential breakout. An analysis of the 4-hour Relative Strength Index (RSI) reveals that the signal line has risen above the 50% mark and is currently sitting at 74%, indicating strong bullish momentum. As long as the RSI remains elevated and buyers maintain control, the asset could experience additional gains with the possibility of reaching new highs.


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On the daily chart, AVAX is showcasing a significant upward push, characterized by a positive candlestick pattern following its rebound above the 100-day SMA. The asset is currently attempting to breach the critical resistance level at $29.35. Successfully overcoming this barrier would reinforce the prevailing upward trend and boost market sentiment, signaling heightened buying interest.

Finally, on the 1-day chart, a detailed examination of the RSI formation indicates that Avalanche may maintain its optimistic trajectory. The indicator’s signal line, after dropping to 44%, is rising again and is currently positioned at 59%, suggesting that buying pressure could remain strong and potentially drive further price appreciation in the near term.

If Avalanche successfully breaches the critical resistance level of $29.35, it could set the stage for a significant rally toward the $42 resistance mark. A breakout above this level could lead to a series of upward targets, pushing the price toward new highs as market confidence grows. However, if Avalanche fails to maintain this strength and breaks above the $29.35 resistance level, it could result in a pullback, with the price sliding back toward the $18.85 support zone. A breakdown below this level could lead to more losses, possibly targeting lower support areas.