AVAX Eyes Reversal Amid Bullish Signals and Risks
Key Takeaways
- AVAX (Avalanche) could rise by 21% – but only if a critical resistance level is broken.
- A closing price above USD 21 could pave the way for a move up to USD 25.15.
- Large transactions surged by 169% – a sign of growing institutional investor interest.
- Technical patterns suggest a possible trend reversal, but risks remain.
Sharp Increase in Large Transactions
On-chain data shows a significant increase in activity surrounding AVAX. According to the analytics platform IntoTheBlock, the volume of large transactions has risen by 169%. These movements often indicate the involvement of so-called “whales” – investors holding large amounts. This development is a positive signal, as it points to growing institutional interest.
Current Price Trend and Trading Volume
At the time of analysis, AVAX was trading at approximately USD 20.05. Over the past 24 hours, the price dropped by 2.5%. At the same time, trading volume increased by 22%. This imbalance – a falling price with rising volume – can signal an upcoming change in direction. Traders closely watch such patterns, as they are often early indicators of a trend reversal.
Technical Analysis: Key Price Levels in Focus
On the daily chart, AVAX has broken out of a descending trend channel. In addition, a “cup and handle” pattern is currently forming – a technical chart formation often considered bullish. If the price climbs above the USD 21 mark and closes the day above it, this could trigger an upward move toward USD 25.15.
The weekly chart shows a similar picture: AVAX has tested the lower boundary of a downward channel and formed a bullish reversal candle. This indicates a potential trend reversal.
Technical Indicators Sending Mixed Signals
Despite the positive patterns, caution is still advised. The price remains below the 200-day EMA (Exponential Moving Average), which suggests an overall downtrend. On the other hand, the RSI (Relative Strength Index) is around 56 points. This is a neutral to slightly bullish level, leaving room for price increases.
What Matters Now
The key level remains the resistance at USD 21. Only if AVAX closes above this level on a daily basis does a rise to USD 25.15 become realistic. If this breakout succeeds and momentum continues, the price could even rise to USD 31.40 in the medium term – a further increase of around 25%.
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Our Assessment
AVAX is currently showing interesting signs of a potential trend reversal. The strong interest from institutional investors and the technical patterns support a short-term upward movement. However, the market remains volatile. A sustained breakout above the USD 21 mark is crucial. Without this impulse, the risk of a false breakout remains. Anyone looking to invest in AVAX should closely monitor price developments in the coming days and keep an eye on technical levels.
Sources
- IntoTheBlock
- TradingView
- AMBCrypto
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