Avalanche (AVAX) has recently shown strong signals for growth. After finding support on a long-term trendline, AVAX is heading towards important price zones that could mark the beginning of a new bullish phase.
Support and Recent Price Movement of AVAX
The AVAX price bounced off an important trendline, which has attracted the attention of buyers. This support level has been key over the past few years, and testing it has yielded positive results, indicating a potential return of buyers to the market.
Target Levels for Further Growth
Analyst Alex Clay outlined key price levels for AVAX. If the price breaks through the zone between $21.50 and $24.00 and holds above, the next target could be $50.40. Further momentum may allow AVAX to reach $90.20 and eventually target $129.90.
Traders' Expectations for the Near Future
According to Alex Clay, the path to these target levels is unlikely to be straightforward and is expected to be presented as a stair-step movement, where AVAX may pull back temporarily before continuing its ascent.
Given the current market circumstances and Alex Clay's analysis, AVAX may be on the verge of significant growth. Traders should monitor key resistance and support levels to accurately gauge their actions.
