Avalanche (AVAX) shows signs of recovery after finding strong support between $25.30 and $26.10. The cryptocurrency had lost over 60% of its value since December 2024, but recent price action suggests a potential turnaround.
Market Analysis
Renowned analyst Ali Martinez identifies a critical demand zone that could fuel AVAX’s recovery. The $25.30-$26.10 range has emerged as a robust support level. AVAX currently trades at $26.7, following a 7% upward move.
The immediate challenge lies at the $27 resistance level. A breakthrough here could trigger momentum toward $30. However, bulls must maintain the current support to prevent a slide to the $23-$24 range.
Technical Outlook
The market structure shows:
- Strong support: $25.30-$26.10
- Key resistance: $27
- Next target: $30
- Risk level: $25 (breakdown point)
Volume analysis indicates increasing buyer interest at current levels. The recent 7% surge demonstrates renewed bullish momentum.
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Market Implications
A successful break above $27 could attract sidelined investors. This move would signal a trend reversal from the recent bearish phase. Traders should watch for increased volume supporting any upward moves.
The broader market sentiment appears cautiously optimistic. AVAX’s recovery could influence other Layer-1 tokens. However, traders should maintain strict risk management given recent market volatility.
Tags: #AVAX #CryptoTrading #TechnicalAnalysis #CryptoMarkets #Avalanche
Source: NewsBTC