AVAX is starting to attract fresh attention as price action hints at a bullish turnaround. With a potential double bottom forming near $18.50 and on-chain activity hitting record highs, some participants are starting to lean bullish on Avalanche’s price prediction.

AVAX Could See a Double Bottom Taking Shape

AVAX is trading around $18.90, right back at a key level it tested just days ago. This retest is shaping into a potential double bottom on the daily chart. As spotted by Kyle Willson, the price just tapped the $18.50 zone for the second time in two weeks.

AVAX retests key support near $18.50, forming a potential double bottom as momentum builds. Source: Kyle Willson via X

If AVAX can reclaim the $22.50 neckline with decent volume, this structure could trigger a short-term push toward the $26 to $27 range. As from the momentum perspective, the daily RSI is deep in oversold territory, creating opportunities for a potential sling shot effect. As of now, the price has stalled here, but this time, if buyers step in with conviction, it could be the beginning of a more sustainable price recovery.

Avalanche Network Activity Explodes

While AVAX price tests key support near $18.90, Avalanche’s on-chain activity is seeing a bullish season. According to Mash, the network just recorded over 18 million transactions in a single day and surpassed 40 million total addresses. This kind of surge suggests that once the selling stops, a potential quick recovery can be witnessed.

Avalanche records 18M daily transactions and crosses 40M wallet addresses. Source: Mash via X

Either way, the disconnect between price and fundamentals is widening. With the daily chart showing signs of a double bottom and momentum indicators oversold, this on-chain strength could serve as fuel for a potential bounce.

AVAX Trading at a Discount

At $19.10, AVAX is sitting near its local lows, and to some, that’s not a red flag, it’s an opportunity. Simon Desue thinks so, calling this a prime spot to “grab bags before it’s too late.” Price-wise, AVAX is still lagging behind its explosive on-chain activity, which just clocked over 18M daily transactions and 40M wallet addresses. With that kind of growth on the backend, these price levels are looking less like weakness and more like a value.

AVAX trades near $19.10 as analysts call it a value zone backed by surging on-chain activity. Source: Simon Desue via X

With technicals starting to align gradually with network activity, it becomes clear this isn’t just dip-buying, it’s calculated positioning for the AVAX community.

Avalanche Price Prediction Targets $40 in Weeks

AVAX is starting to show its hand as price forms a clear breakout from a falling wedge, often seen as a bullish reversal pattern. As shown in Melarin’s chart, AVAX is currently pressing against a newly flipped support zone and trying to reclaim momentum above $22. If it holds here and breaks past the first resistance near $24, the chart structure points toward a shift in sentiment, with the mid-term target zone between $40 and $46 aligning with previous resistance clusters from early 2024.

AVAX eyes a breakout toward $40 to $46 as falling wedge pattern and reclaim of support boost bullish sentiment. Source: Melarin via X

AVAX Community Believes AVAX Will Outperform SOL

AVAX has been quietly building a strong case for itself. From signs of a double bottom forming near $18.50 to a recent spike in network activity with millions of daily transactions, everything suggests momentum is quietly shifting in its favor.

AVAX community grows confident it could outperform Solana. Source: paxDeFi via X

Now, the AVAX community is starting to lean into the idea that AVAX could outperform Solana in the next phase of the market cycle. Analyst paxDeFi highlights a growing belief that Avalanche’s mix of undervalued price action and accelerating backend growth could give it a competitive edge.

Final Thoughts

Even with price still hovering near $19, many in the AVAX community believe this isn’t weakness, it’s an opportunity. On-chain metrics are telling a very different story, with Avalanche hitting record transaction counts and wallet growth accelerating fast. The technical setup, especially the double bottom and breakout wedge pattern, only adds confirmation to the idea that AVAX could be gearing up for a strong rebound in the coming weeks.

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Filed under: Bitcoin - @ June 15, 2025 5:00 am