Avalanche (AVAX) Shows Buy Signal, Potential Breakout to $30

Avalanche (AVAX) is currently trading at $19.92, having rebounded nearly 9% over the past month after dropping to $16 from a local peak of $54. Key points include:

AVAX bounced off its 200-day Simple Moving Average, indicating potential trend reversal.
The TD Sequential indicator on the 4-hour chart has issued a buy signal.
Market cap increased by over $2 billion in the past 30 days, suggesting growing bullish sentiment.
Analyst notes AVAX shows strong reversal prints but has underperformed relative to other altcoins.
AMCrypto suggests a breakout above $22.8 could push prices toward the $28–$30 range.

The daily RSI is at 45.6, indicating no overbought or oversold conditions, allowing for possible upward movement. Bollinger Bands show price consolidation, with potential volatility ahead.

A breakout above $22.8 may lead to further bullish momentum, while falling below $18.4 could invite downside risks. A rounding bottom pattern is forming, which could confirm a rally if the resistance level is breached.