Avalanche Soars 20% In 24 Hours – Analyst Reveals Next Price Target

Avalanche ($AVAX) has made a significant move, breaking above a crucial resistance level and soaring over 20% in less than 24 hours. This surge has reignited bullish sentiment among analysts and investors, who are now closely monitoring $AVAX’s potential to reach the key $50 mark in the coming days. The breakout signals a shift in market dynamics, with rising demand and growing optimism fueling the price action.

Prominent analyst and crypto investor Kaleo shared a detailed technical analysis on X, suggesting that once $AVAX surpasses the $50 level, it could trigger a massive rally. He highlighted the importance of this psychological and technical level as a gateway to exponential price growth, potentially attracting more momentum-driven buyers.

Avalanche’s recent performance reflects the broader strength of the crypto market, as key altcoins experience renewed interest amid a bullish cycle. With market conditions aligning favorably, $AVAX could continue its upward trajectory if it holds above its current levels. However, traders are also cautious and aware of potential profit-taking or resistance near the $50 threshold.

Avalanche Prepares For A Rally

Avalanche is on the verge of a massive rally, closely following a pattern reminiscent of its last bullish cycle. The price has surged above key supply levels with impressive strength and is now less than 15% away from the critical $50 mark. This level has captured the attention of both traders and analysts, as a breakout above it could signal the start of an aggressive bullish phase.

Kaleo recently shared a technical analysis on X, emphasizing the importance of the $50 level. According to Kaleo, breaking this psychological and technical barrier could trigger a powerful rally, potentially doubling $AVAX’s value in a short period.

He also highlighted the AVAXBTC chart, which shows a similar breakout pattern, confirming the bullish sentiment surrounding Avalanche. Kaleo predicts that $AVAX could reach $100 quickly if the momentum continues.

Despite the optimism, the potential for a market-wide correction introduces a degree of caution. With Bitcoin showing signs of possible retracement to consolidate and gather momentum, $AVAX may face temporary pullbacks.

However, such corrections could present buying opportunities for those eyeing long-term gains. As Avalanche approaches this pivotal stage, investors are eager to see if it can break above the $50 level and deliver the explosive rally analysts have forecasted.

$AVAX Testing Fresh Supply Levels

Avalanche is trading at $43.6, marking its highest price level since April following a strong breakout above key resistance around $35. This impressive price action has reignited optimism among investors and analysts, with $AVAX showing resilience as it pushes toward fresh supply levels.

Currently, $AVAX appears poised to challenge the critical $50 mark, a psychological and technical level that could determine the next phase of its rally. However, there is a possibility that the token may consolidate below this level in the coming days. Consolidation would allow the market to absorb recent gains and build momentum for a stronger push higher.

On the downside, if $AVAX struggles to reclaim $50, it could trigger a retrace to lower demand zones, providing the necessary support to fuel its next leg up. Such a pullback would not signal a bearish trend but rather a healthy correction that could strengthen $AVAX’s trajectory toward sustained growth.

As Avalanche continues to climb, investors are closely monitoring price action and volume to assess the likelihood of further upside. The $50 mark remains a critical level to watch, as a successful breakout could pave the way for new highs and solidify $AVAX’s bullish momentum.

Featured image from Dall-E, chart from TradingView