Avalanche Holds Key Demand Zone – Analyst Sets $30 Target If Momentum Holds
Since mid-December, the Avalanche has been under ruthless selling pressure, eliminating over 60% of its value and removing all proceeds from the November 2024 rally. The expanded downward trend has left investors uncertain about its near-term outlook as the market is constantly volatile and working to restore the foundation. However, the recent price action has brought a glimmer of hope, as Avax appears to be stabilizing and finding strong demand at key levels.
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Top analyst Ali Martinez shared key insights highlighting the potential recovery of the avalanche. According to Martinez, demand for Avax accounts for $25.30 to $26.10. This level is a strong support that provides the basis for the foundation needed to change market sentiment. If the price continues to exceed the area, the avalanche will get the momentum needed to resume the rally, with a goal of $30.
The next few days will be The key to avax When investors keep an eye on signs of strength or potential segments. While bearish sentiment hovers in December, the demand zone could be a turnaround launch pad that sparks optimism among traders and long-term holders. Will the avalanche rebound eventually? Time will prove.
Avalanche is ready to recover
The avalanche has been in a state of hesitation, the Bulls are unable to raise the price above $27 and the bears fail to push it further. This tug of war puts the market in a tight state, leaving traders and investors uncertain about the next major actions. While some analysts are optimistic about the potential recovery, others warn that the continuation of Avax’s bearish trend has been plaguing the continuation of Avax since mid-December.
Martinez shares the criticism Insights on Xstressing that the avalanche holds above the critical demand area between $25.30 and $26.10. This level has been strongly supported over the past few days, preventing further shortcomings and giving the Bulls a chance to make a comeback.
According to Martinez, this demand zone can provide the momentum needed for the rally, towards the $30 mark. However, the price must first clear the $27 level, which proves to be an important resistance point. If Avax manages to break through this level, the rally will be held quickly.
The next few days will be crucial for avalanche price action. The Bulls need to recoup the $27 mark to change emotions and attract more buyers. On the other hand, the loss of key support zones may lead to a continuation of bearish trends, potentially bringing Avax to a lower level of demand.
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When the market is closely watching, everyone’s eyes are focused on whether the avalanche can gather forces to resume rally or succumb to further sales pressure. This indecision lays the foundation for potentially explosive moves, and traders should be cautious as the market finds its direction.
Avon price tests are crucial supply
Avax surged 7% yesterday, with the Avax trading at $26.7, indicating the Bulls’ efforts to regain control of their price action. The $27 trademark has become a key supply level and a barrier to further upward movement. Currently, the Bulls are focused on recouping this level, which has lowered the price for several days. If Avax can successfully push $27 and clear the $28 resistance, then a recovery in the rally can boost momentum, potentially pushing the price to $30.
However, the current rally is facing challenges as sales pressure remains high at these key levels. Losing the $25 support zone may cease recovery attempts and lead to further mergers below, below the critical supply range Avax is currently testing. A breakdown below $25 could bring the avalanche back to the demand zone of $23 to $24, extending uncertainty in its short-term direction.
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The days that follow are crucial to determine whether Avax can maintain its recent earnings and reverse the bearish trend. For now, the Bulls must base on yesterday’s momentum by recouping and maintaining $27 support. This will lay the foundation for breaking the $28+ classification, shifting market sentiment to a broader recovery rally.
Featured images from DALL-E, charts from TradingView
