Avalanche (AVAX) is currently challenging a significant supply zone near the $27 price point. This level represents a critical 3-day order block that previously functioned as robust resistance during March.
A strong daily close above $27 is viewed by technical analysts as a potential catalyst for a bullish breakout. Should this occur, market watchers suggest the next major upside target could be the $36 region.
The uptrend remains technically supported by an established trendline originating back in May. This foundational support continues to bolster buyer sentiment and provides a structure for potential upward moves.
Analysts note that even a moderate pullback towards the $17 to $19 price bracket would be considered healthy market behavior. Such a dip could present a strategic reloading opportunity for buyers seeking accumulation before a potential push higher.
Market interest in AVAX is demonstrably increasing, reflected in a substantial 24-hour trading volume surpassing $943 million, indicating heightened trader activity around the asset.