Avalanche (AVAX) Price Finds Bottom: Is a Bullish Spike Next? Key Targets Revealed

Avalanche (AVAX) has been quietly building strength after what looks like a solid bottom. The AVAX price bounced off a long-term trendline

Avalanche (AVAX) has been quietly building strength after what looks like a solid bottom. The AVAX price bounced off a long-term trendline that has played a key role over the past few years. After testing this important area, the price rebounded with confidence, shifting the focus to a key zone just overhead.

If AVAX can break above it, the path for a bullish rally could open up. The recent move on the Avalanche chart caught the attention of many traders. Among them is Alex Clay, who took to X, formerly known as Twitter, to highlight the significance of the bounce at the descending support and resistance level.

Avalanche Bounces From Key Trendline, Heating Up Toward $24

As shared by the analyst, the trendline has rejected the price several times before, applying persistent pressure on Avalanche's attempts to rise. However, at the beginning of August, AVAX found support at the same line and reversed upward.

On the chart, it’s clear how pivotal this level has been. Back in 2022 and 2023, Avalanche struggled to break above the trendline and got rejected multiple times, with one rejection forming the triple top around the $90 level. Now, after bouncing from the same line, the AVAX price is heading toward a horizontal resistance zone between $21.50 and $24.00.

Alex Clay believes this zone is the next challenge for Avalanche. If AVAX crosses above it and manages to sustain itself, it could confirm that a bullish reversal is truly underway.

The Avalanche Price Targets To Watch Next

Alex Clay further elaborated on some clear price targets for Avalanche if the bullish momentum continues. Once AVAX breaks and stays above the key zone around $24, the next stop could be $50.40. This level lines up with an earlier area where price consolidated and struggled, so it makes sense as the first major target.

If momentum carries Avalanche beyond that, Alex Clay sees $90.20 as the second target. This area ties in with a major Fibonacci level and also matches a spot where sellers previously stepped in hard, applying strong downward pressure.

Finally, if the AVAX price manages to break above both those zones and continues its ascent, Alex Clay’s ultimate target is $129.90. That would bring Avalanche close to levels seen during its stronger bullish phases, potentially matching the retracement from its all-time highs.

According to Alex Clay, the price path won’t be a straight line. His projection shows a stair-step move, where AVAX rallies to a target, pulls back briefly, then continues higher.

For traders who are following Avalanche closely, these levels could help shape their expectations over the coming months. As the price action unfolds, traders can use these targets to set their entries, exits, and potential profit goals.

With the AVAX price currently holding steady above the crucial trendline and eyeing a return above the key zone, Avalanche could be setting the stage for something big. Alex Clay’s insights provide a clear roadmap for what could come next in the journey of Avalanche.