AVAX holds strong above $17.80 as it forms a bullish pennant, eyeing a breakout that could push the price toward $19.78.
Avalanche is showing quiet strength as it trades within a bullish pennant, and on-chain activity continues to rise. Momentum is building, and if the breakout confirms, it could catch the market off guard, reshaping the short-term Avalanche Price Prediction positively.
AVAX Forms Bullish Pennant
Avalanche may be flashing early signs of a momentum shift. According to Crypto AI by Klondike, AVAX is currently forming a textbook bullish pennant, one of the more reliable continuation patterns. Despite being carved out within a broader downtrend, this setup suggests that the bears may be running out of steam. The price has tightened into a narrowing range between converging trendlines.
AVAX forms a bullish pennant, eyeing a breakout above $17.80 that could target $19.78. Source: Crypto AI by Klondike via X
From a technical standpoint, the key area to watch is the $17.80 zone, where a breakout with volume could open room toward the $19.78 range. However, until confirmation appears, the pennant remains a neutral setup.
AVAX Pushes Higher as Market Reverses
AVAX is currently trading at $17.88, notching over a 10% gain on the week and showing signs of renewed strength. As the broader market attempts a recovery, Avalanche appears to be riding the momentum as well. This optimism was echoed by avaxjesus, who noted that it was shaping up to be a “good day” for the AVAX ecosystem.
Avalanche is trading around $17.88, up 1.58% in the last 24 hours. Source: Brave New Coin
The bullish pennant formation spotted earlier had already hinted at this kind of upside push, and now AVAX seems to be validating that setup in real time. If price can hold above the $17.80 region with volume confirmation, it may signal the start of a larger trend reversal.
AVAX gains over 10% this week. Source: avaxjesus via X
On-Chain Activity Strong & Price May Follow
While AVAX’s price is just beginning to lift off, on-chain data is already leading. As shown by analyst Seb, Avalanche has seen a massive spike in daily transactions, now pushing past 1.5 million per day. That’s the highest level in over a year.
Avalanche’s daily transactions surge past 1.5 million, signaling potential price acceleration ahead. Source: Seb via X
Historically, large transaction spikes often act as leading indicators for future price acceleration, especially when they persist over several weeks. Seb notes that this surge in transactions could precede a delayed price reaction. It lines up with the recent breakout from AVAX’s bullish pennant and the growing optimism seen across crypto markets.
Avalanche Technical Outlook
AVAX is now testing a key horizontal demand zone that has acted as a base for multiple reversals over the past year. The $16 to $17 area, as shown in Trader Sam’s latest chart, highlights a strong support region, which is a potential double bottom.
The neckline of the potential reversal sits around $24 to $25, and a close above it could confirm the pattern and open up targets into the $30+ zone.
AVAX holds strong supports, aiming to break the $24 to $25 neckline resistance. Source: Trader Sam via X
What stands out technically is the clean respect of horizontal support and resistance across the recent price structure. Instead of breaking lower, price held its ground and is now rebounding with a visible intent to challenge the next resistance cluster.
AVAXBTC Eyes Possible Exit Pump
On the weekly AVAX/BTC chart, Avalanche continues to trade within a descending channel that has contained price action since late 2021. Analyst CryptoOpus highlights that while the pair has spent 3.5 years grinding lower against Bitcoin, it’s now nearing a critical point. Price is currently hovering just above the lower boundary of the channel, near the 0.0001350 level, an area that previously triggered rebounds.
AVAX/BTC trades near the channel’s lower boundary at 0.0001350, eyeing a possible relief rally toward 0.00045. Source: CryptoOpus via X
According to the analysis, a short-term dip could occur from current levels, but it may be followed by a sharp relief rally, a potential “exit rally” toward the upper boundary of the channel around 0.00045. This is where some selling pressure could return. Still, this rebound could offer a meaningful window for AVAX to attempt a stronger recovery.
Final Thoughts
AVAX is flashing a powerful mix of technical strength and growing on-chain momentum. The breakout from a bullish pennant, holding firmly above the $17.80 level, combined with surging daily transactions and strong support near $16 to $17, points to a potential shift in trend.
The technical structure is clean, price has respected key zones, and now eyes the $19.78 target in the short term, with a possible move toward $25 with room for higher levels if momentum continues..
