Crypto markets are seeing a significant upswing, and altcoins are leading the charge. Avalanche (AVAX) was one of the strongest performers today, and technical indicators suggest that positive trends may be on the horizon for the token in the coming weeks.
On Monday, Avalanche was up 11%, reaching $21.62. This contributed to a weekly rally of 18.12%, helping the token recover some of its losses earlier this month. Additionally, charts indicate that this could mark the beginning of a major rally.
Avalanche (AVAX) Price Prediction
The AVAX price movements indicate that the token has already undergone a major breakout from the pattern that started forming in November of last year. On Monday, the token’s price broke through the upper limit of the barrier at $20.
Should AVAX maintain its position above this level, bullish activity is likely to push it toward the next resistance at $24.99. At that point, the token could be set for another push toward $30 before reaching its near-term price target of $35.
A longer-term perspective shows the Avalanche price consistently trading within a narrowing wedge formation, which began developing in November 2023. The token rebounded from the lower boundary at $15.38, which acted as support. The subsequent rally advanced toward the zone for potential new gains.
According to this reading, Avalanche is looking at a new average price between $25 and $40 in the coming months. The token’s upper bound seems to be $50, where it is likely to encounter significant resistance. A breakout beyond this level will depend on a broader altcoin rally, which may come later in 2025.
While technicals for AVAX are strong, fundamental analysis also favors the token. Network TVL remains above $1 billion and has experienced some upward momentum in the past week. Avalanche is also consistently seeing upwards of 200k daily transactions.
These figures indicate that the ecosystem remains resilient even when the token is under pressure, which suggests a positive long-term outlook for the Avalanche network.
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