AVAX Avalanche price might be gearing up for a major move as it continues to defend a key long-term support zone while fresh bullish signals stack up

AVAX is parked right on top of a long-term demand zone, one of its key “make” levels. The $10 to $13 range has served as a firm foundation since mid-2022

AVAX, the native token of the Avalanche blockchain, might be gearing up for a major move as it continues to defend a key long-term support zone while fresh bullish signals are stacking up.

After weeks of quiet consolidation, momentum is starting to flip, both on the charts and on-chains.

This comes at a critical time for AVAX, which has been defending a crucial demand zone between $10 and $13. This zone, one of its key “make” levels, has been a lifeline for AVAX throughout 2023. It intervened in mid-2022 to absorb a heavy drawdown and has consistently defended itself throughout broader market turbulence.

At the start of 2023, as BTC price slid from $24,000 to $20,000, taking out major coins, again this zone held. Later, during the March 15 crash that sank LTC and ETH by 20%, again, this time in a shorter period.

But recently, the tide has started to turn.

Monthly Stochastic Flips Bullish on AVAX

Following AVAX’s solid defense of its macro base, Momentum is starting to shift. According to CryptosBatman, AVAX has just flashed a golden cross on the monthly stochastic oscillator. This isn’t just a random crossover., It has triggered key bottoms before, notably in mid-2021 and again in late 2022, both of which led to strong price recoveries within.

Technically, a stochastic golden cross on the monthly is rare and powerful because it measures long-term momentum shifts. While price is still hugging support, this crossover suggests underlying strength is quietly returning. Now, if AVAX can get above $24, a run towards $32 and $44 would be on cards.

AVAX Network Momentum Returns Around Key Supports

Sticking with the bullish theme, Degen Times shared that the active addresses on the Avalanche chain have surged by more than 90%. This is the largest increase in activity seen this year.

To put this in perspective, the previous high was reached in December 2021 during the last bull market cycle.

Furthermore, transactions on the Avalanche network have surged to all-time highs this week, with a noteworthy 30% spike.

As a result of this heightened network activity, we can expect to see a corresponding rise in gas fees. And indeed, the Degen Times notes that transaction fees on Avalanche have climbed to yearly peaks.

This signals that users are engaging more deeply with the chain and utilizing its smart contracts and dApps in record numbers.

With AVAX holding firm at its $10 to $13 macro support zone and monthly momentum flashing a bullish crossover, this new wave of on-chain strength couldn’t have come at a better time. Quiet accumulation has been in play for weeks, but now the metrics are starting to back it up. If this momentum holds and price clears the next resistance levels, Avalanche could be gearing up for a bullish leg.