The cryptocurrency market shows strong performance this quarter, with significant growth in Ethereum (ETH) amidst an overall rally.
Overview of the Current Cryptocurrency Market
The cryptocurrency market is currently showing positive results, with Ethereum (ETH) up over 39%, leading it to trade around $2,550 after reaching a peak of $2,873. Many altcoins are also gaining support, but Avalanche (AVAX) is notably lagging behind.
Fractal Suggests Potential Recovery for Avalanche
On the daily chart, AVAX is beginning to repeat a powerful fractal pattern that previously led to a 100% rally in late 2024. Back then, the token first formed a falling wedge, which is a typical bullish reversal signal. After breaking out from the wedge, AVAX entered a descending channel, a structure often occurring before continuation moves. Once AVAX broke out of that channel, the price surged over 100%.
What’s Next for AVAX?
For this bullish scenario to fully materialize, AVAX needs to maintain its current structure within the descending channel. A decisive breakout above the channel’s upper boundary could reignite buying pressure and trigger further momentum toward higher resistance levels. The anticipated upside targets lie between $42 and $46.
Avalanche (AVAX) may replicate its past success if it keeps the current momentum, with a successful test of the $46 level serving as a positive signal for continued growth.
