Market watchers are zeroing in on Avalanche’s AVAX token as it tests a make-or-break support level near $32. Technical indicators suggest this could be a springboard for its next major move. Recent consolidation around this key price point has interested analysts who see the potential for a decisive breakout after weeks of downward pressure.
InvestingHaven suggests that AVAX’s ability to hold this level could determine its next major price move. If buyers step in, AVAX could rally toward mid-term targets, but a breakdown may expose lower levels.
$AVAX Testing Key Support
— InvestingHaven (@InvestingHaven) January 28, 2025
Avalanche has reached our predicted 2025 support and is consolidating.
-Pullback aligns with 2025 predictions
-$32.43 is the pivotal Fib level
-8-day close determines next direction#AVAX 38.2% Fib at $32.43 is critical for the bullish reversal. https://t.co/C7dcVTn9bO pic.twitter.com/vxD4Oh6ozS
What you'll learn 👉
AVAX at a Critical Fibonacci Support
Avalanche’s value has decreased from its recent peaks, now approaching the $32.4 Fibonacci retracement level. As stated by InvestingHaven, this level is vital since it frequently serves as a turning point for price reversals in trending markets.
The ongoing consolidation indicates that AVAX is taking in liquidity, which is a crucial element in deciding its next direction. A sustained 8-day close above $32.4 would strengthen the bullish outlook, potentially pushing AVAX toward $45-$50 in the short term. However, failure to hold could lead to a deeper correction toward the $18-$20 support zone before any recovery.
Avalanche’s price structure highlights distinct support and resistance levels that traders are monitoring. The 2025 support zone sits between $32 and $34, aligning with Fibonacci projections. Holding this range could keep the bullish narrative intact, with a long-term target between $70 and $90 in 2025.
On the other hand, resistance at $38-$40 remains a short-term hurdle. If AVAX flips this level into support, it could reinforce bullish momentum and set the stage for further gains.
Read also: Is Onyxcoin (XCN) Binance Listing on the Way, and How Could This Affect the Token?
AVAX Market Sentiment and Broader Crypto Influence
Market sentiment regarding AVAX remains cautious, as traders observe Bitcoin’s price movements for insights. The performance of altcoins is frequently affected by wider market trends, and Bitcoin’s movement may influence AVAX’s capacity to maintain recovery.
Liquidity absorption at support is crucial—if buyers step in, it could trigger a strong rebound. Conversely, a break below $32.4 could extend the downtrend, with key support levels from 2024’s price action likely to come back into play.
Avalanche is at a make-or-break moment, with its technical structure signaling a crucial inflection point. The $32.4 Fibonacci level remains the key level to watch, with an 8-day close above it confirming bullish strength.
The upside targets include $45-$50 in the near term and a potential $70-$90 range by 2025. If AVAX fails to hold support, the $18-$20 zone may serve as the next major demand level before any meaningful recovery.
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