Analysts Predict Avalanche AVAX Could Break Out to $43
Avalanche (AVAX) is trading at $23.14, down 2% in the last 24 hours. Despite a broader market rally, AVAX's gains over the past month are limited to 4.5%. It remains within an 18-month descending channel, indicating persistent bearish trends.
- Analyst Ali Martinez suggests watching for a 4-hour close above $27 to confirm bullish strength, potentially leading to a price target of $43.
- AVAX recently broke out from a multi-month falling wedge, suggesting a possible trend shift from a $17–$19 accumulation zone.
- TheCryptera forecasts price targets of $41, $52, and $61 for AVAX, which has a market cap of $9.76 billion.
- On the daily chart, AVAX is near its mid-Bollinger Band at $23.68, with resistance around $25.86 and support at $21.50.
- The RSI indicates neutral sentiment, while the MACD shows a bearish crossover, suggesting caution in the short term.
Traders should monitor the $27 level for signs of strength; otherwise, AVAX may continue sideways until market sentiment shifts.