Featured image from Shutterstock, chart from Tradingview.com<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"Avalanche (AVAX) has regained traction, showing signs of a potential bullish resurgence as it approaches a key resistance level at $29.35. After a period of consolidation, AVAX\u2019s price action hints at a possible breakout, which could trigger a strong upward movement. With technical indicators showing signs of strength, the market’s focus now shifts to whether Avalanche can sustain this upward momentum and push past the $29.35 barrier for a sustained move higher. This analysis aims to evaluate Avalanche’s recent price rebound and assess whether it has the momentum to break through the key $29.35 resistance level. By examining technical indicators, market sentiment, and price trends, we seek to determine if the token is poised for further gains, setting the stage for a sustained rally in the coming sessions. AVAX’s Strong Bounce: Will Momentum Continue? Following the bullish comeback at $25, AVAX’s price on the 4-hour chart has continued to gain strength to surge toward the $29.35 resistance level. AVAX is also trading above the 100-day Simple Moving Average (SMA), suggesting a positive upward trend that could lead to a potential breakout. An analysis of the 4-hour Relative Strength Index (RSI) reveals that the signal line has risen above the 50% mark and is currently sitting at 74%, indicating strong bullish momentum. As long as the RSI remains elevated and buyers maintain control, the asset could experience additional gains with the possibility of reaching new highs. Related Reading: Can Avalanche (AVAX) Reclaim $30? Top Analyst Predicts A Dip Before A Bounce Additionally, the daily chart illustrates that AVAX is showcasing a significant upward push, characterized by a positive candlestick pattern following its rebound above the 100-day SMA. The asset is currently attempting to breach the critical resistance level at $29.35. Successfully overcoming this barrier would reinforce the prevailing upward trend and boost market sentiment, signaling heightened buying interest. Finally, on the 1-day chart, a detailed examination of the RSI formation indicates that Avalanche may maintain its optimistic trajectory. The indicator’s signal line after dropping to 44% is rising again and is currently positioned at 59%,\u00a0 indicating that buying pressure could remain strong and potentially drive further price appreciation in the near term. What\u2019s Next For Avalanche If $29.35 Is Breached? If Avalanche successfully breaches the critical resistance level of $29.35, it could set the stage for a significant rally toward the $42 resistance mark. A breakout above this level could lead to a series of upward targets, pushing the price toward new highs as market confidence grows. Related Reading: Avalanche (AVAX) Ready To Target $28: Investors Expect A Reversal However, if Avalanche fails to maintain this strength and breaks above the $29.35 resistance level, it could result in a pullback, with the price sliding back toward the $18.85 support zone. A breakdown below this level could lead to more losses, possibly targeting lower support areas. Featured image from Shutterstock, chart from Tradingview.com<\/p>\n","protected":false},"author":608,"featured_media":647592,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[89168],"tags":[9885,83347,86511,83609,93199,16393,14763,91599],"class_list":["post-647590","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-avax","tag-avalanche","tag-avax","tag-avaxusd","tag-avaxusdt","tag-candlestick","tag-relative-strength-index","tag-rsi","tag-simple-moving-average"],"acf":[],"yoast_head":"\n
Avalanche Rebounds: Eyes $29.35 Breakout And Further Gains<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n