Avalanche is Moving Towards a Bullish Rally With 2.05% Intra-day Growth on Thursday

A bullish breakout is around the corner for Avalanche. Technical charts are optimists, and a lot of whale activities are in the pipeline.  What now? 

AVAX is a lone wolf standing amidst a bearish market. The total cap of the crypto market is gradually depleting. Meanwhile, a lone coin- Avalanche is creating an unorthodox bullish pattern. Moreover, the coin is moving towards a rally, too.  

January was a month of hardship for AVAX. In a matter of 30 days only, the asset value plummeted 27.9%. However, investors are still hopeful that a huge market revival is around the corner. This is keeping sentiments alive.  

On that note, the coin has gained slight traction, with 2.05% growth in 24 hours on Thursday. This is enough fodder for the investor to fathom a bullish market ahead. The technical analysis of the coin also shows that a golden cross formation is ahead. At the same time, a potential market rally can also happen.  

The hope of a bullish formation intensifies! 

Most of the technical charts based on the coin suggest that AVAX should be expecting a new high, either this month or in March 2025.  

The first step to this bullish phase has already started. Based on a growth pattern, the coin value has reached $24.53. All market sources expect that the AVAX price will only shoot upwards from here before it hits a decent resistance line.  

A slight decline May Also Happen. 

Some critical indicators like the relative strength index or MACD index suggest that the price movement might also be turbulent for the upcoming 15 days to 30 days. The coin is still in a bearish state.  

Once it starts to kick off and goes past this phase, the recovery will be much quicker. But here is a catch. Avalanche needs to maintain a price of $34.21 even amidst this bearish stage. At best, a support level of $32.07. any drop below that could put the future bullish recovery at stake.  

Traders’ Digest 

The market, however, hopes that chronic buying actions will soon start. Whales are already making frequent inquiries about the prospect of this coin. Within a day, the number of large transactions was 569, marking a seven-day high. If this friend follows, analysts hope that whales would alone make a total of 10.77 million transactions in a short time phase.