Avalanche Targets $35 Resistance

Avalanche rose over 40% in the last week, from $19 to $26.84 on Monday. The cryptocurrency struck an 18-month low of $14.66 in early April but recovered 37% before its current outburst.

AVAX has broken out of its five-month slump, which saw the cryptocurrency retrace roughly 73% from its Q4 2024 high, during the market rebound. Avalanche also produced a 2-month Cup-and-Handle pattern with a $23 neckline.

After the neckline breakthrough and weekend recapture, the analyst said the goal “is clear now.” Thus, Avalanche may rise 30% to $32.

Analyst CW said that AVAX has a critical sell wall at $27, where it has experienced resistance for days. If it breaks past this barrier, it might reach $36 before hitting the next selling wall around $38.5.

Another $42.5-$46.5 wall awaits. If the cryptocurrency fails to break the initial barrier, it may return to the breakout levels and the downtrend line around $20, with a selling wall below it as support.

First, a cryptocurrency moves fast toward the highs during the bull market, establishing the range's upper border. After the bear market begins, the token's price records “steep lower lows and highs” approaching the range's low before entering the accumulation phase. In this stage, the cryptocurrency falls below the range low.

AVAX's chart “another super clean mini cycle example.” Avalanche established its range between $20 to $130 after attaining its ATH of $146 in November 2021, dropping below the range's low in mid-2022.

Late in 2023, the cryptocurrency recaptured the range low, concluding the third stage and starting the fourth during the early 2024 rise. After its deviation, it retested the range lows and recovered last week to break out.

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