๐ Market Snapshot & Technical Outlook#StablecoinLaw
Current price: hovering around $25โ26, reclaiming key resistance and showing bullish momentum .
Short-term setup: AVAX has formed a double-bottom pattern (bounces at ~$14.75โ$15 in April), with resistance near $25.50; a breakout above this could target $30โ35 .
Technical structure: recently broke out of a descending channel pattern, both on AVAX/USD and AVAX/BTC charts; a clean breakout may lead toward $32โ35, with extended targets up to $47โ48 .
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๐ OnโChain & Fundamentals
DeFi activity: Daily transactions hit a record 20 million, with TVL up 37% to nearly $1.9โฏbillion on Avalanche .
Ecosystem growth: Partnerships include Lynq (institutional payments) and enterprise adoption (e.g., Blockticity), adding real-world utility .
Momentum gains: Rising RSI (back above 50), increasing open interest, and bullish funding rates signal strong demand .
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๐ฏ Price Targets & Scenarios
Short-term resistance levels:
Immediate: $25.50โ26.00
Mid-term breakout: $30
Extended upside: $32โ35, with potential stretch to $47โ48
Support levels:
Short-term: $21.65โ22.00 (recent bounce zone)
Key pivot: $14.75โ15 (double-bottom zone)
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๐ Summary & Outlook
Avalanche (AVAX) is entering a bullish consolidation phase. With strong technical patterns, record on-chain usage, and growing ecosystem partnerships, the coin is poised for a potential breakout above $25.50. A confirmed move could open rapid gains toward $30+, possibly reaching $35 in the medium termโand even higher if the bullish momentum holds.
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โ Considerations
The RSI is heating up, but the rally retains strength.
Resistance near $26โ27 could spark a short-term pullback.
Always manage riskโuse stop-loss near $22โ23 and scale positions based on market moves.
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Interested in deeper analysis? I can pull up historical charts, compare AVAX to other L1 blockchains, or help with buying/staking on Binance (or other platforms). Just let me kno