The post Avalanche Price Rallies 12% after Recent Breakout, What’s Next? appeared on BitcoinEthereumNews.com.

Key Notes With AVAX trading above key resistance at $21.39, analysts predict a potential rally of 20% to above $30. AVAX’s long-short ratio hit a one-month high of 1.18, and funding rates turned positive. Its market cap now exceeds $9.07 billion, fueled by strong technical and on-chain metrics. Avalanche’s native cryptocurrency AVAX $21.35 24h volatility: 9.5% Market cap: $8.84 B Vol. 24h: $503.23 M has shot up by a strong 12% in the last 24 hours, following a massive breakout on the technical chart, with a 185% increase in daily trading volumes, hitting nearly $400 million. Amid today’s avalanche price rally, the AVAX market cap has also peaked above $9.07 billion. On-chain metrics show a bullish outlook for AVAX, with analysts expecting the rally to continue further. The long-short ratio for Avalanche (AVAX) reached the highest in over a month’s time. Avalanche Price Technical Chart Shows Bullish Bias Eyeing Another 20% After breaking above its descending trendline, the Avalanche price has shown strong signs of a recovery. Last week, AVAX rallied nearly 7% and continues to hold above $21.39 as of Monday, maintaining its 7% weekly gains. As a result, it has also managed to recover nearly 50% of its monthly losses. Market analysts note that if AVAX sustains its upward trend and closes above its weekly resistance of $20.99, it could trigger a 17% rally toward the next major resistance at $24.99. A decisive close above this level might pave the way for an additional 20% gain, potentially driving the price to test the psychological milestone of $30. Source: TradingView Technical indicators further support the bullish sentiment. The daily Relative Strength Index (RSI) reads 53, moving upward above the neutral 50 mark, signaling positive momentum. The Moving Average Convergence Divergence (MACD) indicator on the daily chart confirmed a bullish…

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Filed under: News - @ March 24, 2025 9:26 pm