After a price decline of over 70%, Avalanche [AVAX] is poised for an upside rally. This bullish speculation is driven by the current price action and growing interest from traders and investors in the asset.

On-chain analytics firm IntoTheBlock revealed that participation from whales and investors in AVAX has skyrocketed, resulting in a 169% jump in large transaction volume at press time.

This surge in the asset’s trading volume appears to be a bullish sign, as it coincides with AVAX breaking out from a bullish price action pattern.

At press time, AVAX was trading near $20.05, having recorded a price decline of 2.50% over the past 24 hours.

During the same period, its overall trading volume jumped by 22%, indicating heightened participation from traders and investors.

This surge in trading volume reflects strong interest from traders, and if it follows a breakout, it indicates a bullish opportunity.

Based on recent price action, if the price breaks out and closes a daily candle above the $21 level, there is a strong possibility it could initially rally by 21% to reach the $25.15 level.

If the upside momentum continues, it could further propel the asset by another 25%, reaching the $31.40 level in the coming days.$BTC #MarketRebound