AVAX hovers near key $20 support, testing major trendline for potential rebound.
ETF decision delay to July 15 keeps regulatory spotlight on Avalanche.
On-chain data signals undervaluation, hinting at possible accumulation and breakout setup.
Avalanche’s AVAX has touched a line drawn in the sand. Price action is clinging to the $20 level, and eyes across the market are watching. While many traders panic at dips, others see a springboard. Could this be the calm before a vertical leap? With a looming ETF decision and a chart that whispers breakout, Avalanche stands at a crossroads. Let’s unpack what’s really going on beneath the surface.
https://twitter.com/Pulse_Platform1/status/1929800217093984300 AVAX Walks a Tightrope at $20
Avalanche trades at $20.62 after slipping 1.37% in 24 hours. That move pushed it right above crucial support. The $20 zone has served as a backstop before. Losing it could trigger a fall to $18. Holding it could mean a rebound toward $22.80 or even $27. Volume plunged nearly 47%, down to $280.81 million. This drop signals hesitation or simple weekend fatigue. Over the past week, AVAX dropped 8.46%, showing the market lacks conviction. Yet, that’s often where trends reverse. On the weekly chart, price action dances within a massive bull flag.
Higher highs and higher lows form clean lines that stretch back over a year. This pattern teases breakout potential, like a slingshot being pulled back. Technical analysts see this structure pointing to $300 long-term. That target may seem like wishful thinking, but chart patterns don’t lie. They reflect the emotions and psychology of thousands of traders. On the daily chart, AVAX tests a trendline that helped fuel May’s recovery. This line and the $20.50 zone now form a critical bounce region.
ETF Buzz and On-Chain Signals Hint at a Reset
Regulators have delayed the AVAX spot ETF decision to July 15, 2025. While the delay offers no short-term catalyst, the market remains alert. ETF news always lights up sentiment, even if approval feels distant. Meanwhile, on-chain data tells a different story. AVAX’s short-term Bubble Risk now sits at 0.916. That’s below the neutral 1.0 mark, which analysts call the “bearish” zone.
This metric doesn’t suggest weakness—it hints at undervaluation. AVAX looks cheap based on historical trends. When this metric falls, accumulation zones often follow. Think of the current price like a coiled spring. The tension builds as support holds, while traders wait for a spark. If the ETF narrative gains steam and the bull flag confirms, the market could flip overnight.
Analysts remain divided. Some expect a modest year-end target of $44.79. Others predict tighter ranges around $20. But technicals and on-chain strength tell a story of possible lift-off. AVAX now appears on more analyst watchlists. Altcoins begin to attract attention again, and AVAX sits right at the center of that storm.
