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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

Avalanche Holds Key Demand Zone – Analyst Sets $30 Target If Momentum Holds

Sebastian Villafuerte
Sebastian Villafuerte
5 months ago
3 mins read
Avalanche Holds Key Demand Zone – Analyst Sets $30 Target If Momentum Holds

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Avalanche has faced relentless selling pressure since mid-December, wiping out over 60% of its value and erasing all the gains from the impressive November 2024 rally. The extended downtrend has left investors uncertain about its near-term prospects as the entire market struggles to regain footing amid ongoing volatility. However, recent price action is offering a glimmer of hope, as AVAX appears to be stabilizing and finding strong demand at crucial levels.

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Top analyst Ali Martinez has shared key insights, highlighting a potential recovery scenario for Avalanche. According to Martinez, AVAX is holding above a critical demand zone between $25.30 and $26.10. This level is acting as a strong support, offering the foundation needed to shift market sentiment. If the price continues to hold above this zone, Avalanche could gain the momentum necessary for a recovery rally, with a target of $30 in sight.

The coming days will be pivotal for AVAX as investors watch closely for signs of strength or a potential breakdown. While the bearish sentiment from December lingers, this demand zone could be the launchpad for a turnaround, sparking renewed optimism among traders and long-term holders alike. Will Avalanche finally bounce back? Time will tell.

Avalanche Poised For A Recovery

Avalanche has been trading in a state of indecision, with bulls unable to push the price above the $27 mark and bears failing to drive it further down. This tug-of-war has kept the market in a tight range, leaving traders and investors uncertain about the next major move. While some analysts are optimistic about a potential recovery, others are warning of a continuation of the bearish trend that has plagued AVAX since mid-December.

Martinez shared critical insights on X, highlighting that Avalanche is holding above a key demand zone between $25.30 and $26.10. This level has acted as strong support over the past few days, preventing further downside and giving bulls an opportunity to stage a comeback.

Avalanche In/Out money around price | Source: Ali Martinez on X
Avalanche In/Out money around price | Source: Ali Martinez on X

According to Martinez, this demand zone could provide the momentum needed for a rally toward the $30 mark. However, the price must first clear the $27 level, which has proven to be a significant resistance point. If AVAX manages to break through this level, a rally could follow quickly.

The next few days will be crucial for Avalanche’s price action. Bulls need to reclaim the $27 mark to shift sentiment and attract more buyers. On the flip side, losing the key support zone could result in a continuation of the bearish trend, potentially taking AVAX into lower demand levels.

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As the market watches closely, all eyes are on whether Avalanche can muster the strength for a recovery rally or succumb to further selling pressure. This indecision sets the stage for a potentially explosive move, and traders should remain cautious as the market finds its direction.

AVAX Price Testing Crucial Supply

Avalanche (AVAX) is trading at $26.7 following a 7% surge yesterday, signaling renewed efforts by bulls to regain control of price action. The $27 mark has emerged as a critical supply level, acting as a barrier to further upward movement. Bulls are currently focused on reclaiming this level, which has held the price down for several days. If AVAX can successfully push above the $27 mark and clear the $28 resistance, a recovery rally could gain momentum, potentially driving the price toward the $30 mark.

AVAX testing supply below $27 | Source: AVAXUSDT
AVAX testing supply below $27 | Source: AVAXUSDT chart on TradingView

However, the current rally faces challenges as selling pressure remains strong at these key levels. Losing the $25 support zone would likely halt the recovery attempt and lead to further consolidation below the key supply range that AVAX is currently testing. A breakdown below $25 could bring Avalanche back into the $23-$24 demand zone, prolonging the uncertainty surrounding its short-term direction.

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The coming days will be crucial in determining whether AVAX can sustain its recent gains and reverse its bearish trend. For now, bulls must build on yesterday’s momentum by reclaiming and holding the $27 mark as support. This would set the stage for a breakout above $28, shifting market sentiment in favor of a broader recovery rally.

Featured image from Dall-E, chart from TradingView

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Sebastian Villafuerte
Sebastian Villafuerte

Sebastian Villafuerte

Sebastian's journey into the world of crypto began four years ago, driven by a fascination with the potential of blockchain technology to revolutionize financial systems. His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies.

Read more

To share his insights with others, Sebastian became an active contributor to online discussions on platforms like X and LinkedIn. His focus on fintech and crypto-related topics quickly established him as a trusted voice in the online crypto community. Sebastian's goal was to educate and inform his audience about the latest trends and insights in the rapidly evolving crypto landscape.

To further enhance his expertise, Sebastian pursued a UC Berkeley Fintech: Frameworks, Applications, and Strategies certification. This rigorous program equipped him with valuable skills and knowledge regarding Financial Technology, bridging the gap between traditional finance and decentralized finance. The certification deepened his understanding of the broader financial landscape and its intersection with blockchain technology.

Sebastian's passion for finance and writing is evident in his work. He enjoys delving into financial research, analyzing market trends, and exploring the latest developments in the crypto space. In his spare time, Sebastian can often be found immersed in charts, studying 10-K reports, or engaging in thought-provoking discussions about the future of finance.

Sebastian's journey as a crypto pioneer has been marked by a relentless pursuit of knowledge and a dedication to sharing his insights. His ability to navigate the complex world of crypto, combined with his passion for financial research and communication, makes him a valuable contributor to the industry. As the crypto landscape continues to evolve, Sebastian remains at the forefront, providing valuable insights and helping to shape the future of this revolutionary technology.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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