Key Insights:
- AVAX rebounded 35% from its March 11 low of $15.27, now trading near key resistance at $22.
- AVAX formed higher lows and broke out of a falling wedge—classic signs of a bullish trend reversal.
- Analysts target $150 for AVAX if the price holds above $20 and breaks resistance at $30.73.
Avalanche (AVAX) has shown renewed strength after rebounding from its March 11 low of $15.27. The cryptocurrency maintains positions above its essential $20 threshold as experts anticipate a substantial price uptick based on present support conditions. Technical chart patterns combined with current price movements indicate AVAX could possibly increase up to a maximum of $150.
Rally to $150 Depends on Market Continuation
According to an analysis by @CryptooELiTES on x, the next major price targets for AVAX are $55, $100, and eventually $150. The forecast is based on historical support, bullish pattern breakout, and higher low formation. Analysts believe that if AVAX holds above $20 and breaks above $30.73 in the coming weeks, the mid- to long-term goal of $150 becomes more likely.
Market confidence would increase when AVAX reaches and holds positions above the $48 level. Market confidence would emerge at this point while attracting both short-term traders and long-term investors. The delay of the bullish scenario would occur if AVAX price drops below $18.
The AVAX price exhibits powerful recovery by rebounding 35% from its March market bottom. The following period serves as a critical indicator for deciding if this upward movement can establish a complete upward trend.
Will Avalanche ETF Approval Boost AVAX Price?
Institutional entities are showing a growing interest in Avalanche as ETF filings continue to rise. A Section 19b-4 filing with the U.S. Securities and Exchange Commission (SEC) allows Nasdaq to list a Grayscale AVAX spot exchange-traded fund (ETF). Grayscale is not the only firm pursuing this; two weeks earlier, VanEck also filed for an AVAX ETF, reflecting increasing demand for institutional exposure to Avalanche.
This move follows a pattern seen with Bitcoin and Ethereum ETFs. The approval of AVAX ETF will increase the availability of market funds while strengthening the Avalanche network in the marketplace. Analysis shows that the approval decision for AVAX ETF will influence investor sentiment as well as determine price trends for the long term.
The market is watching for the SEC’s response, as it could affect the approval of other altcoin ETFs. Approval would also help AVAX gain exposure in traditional finance markets. However, the timeline for a decision remains unclear.
Short-Term Breakout Levels Could Trigger Wider Upside
The current short-term resistance lies between $22 and $23. Analysts state that a close above this level could confirm the beginning of a rally. The next resistance areas will emerge at $25.12 and $27.23 if buyers maintain their upward movement beyond the 50-day simple moving average. The key targets at $48 and $70 can be reached after reaching specific levels.
Technical indicator metrics RSI and MACD start indicating increasing buying signals. Prior to the price breaking the descending trendline bullish divergences appeared on the daily chart. The continuing demand confirms that purchases might endure especially when volume maintains the rally. Should bulls excerpt pressure, Avalanche could soon hit $150 should buying pressure persist. However, should it decline, hitting the level could prove a little harder.