The post Avalanche Price Analysis – Can AVAX Break Key Resistance at $34.5? appeared first on Coinpedia Fintech News
The official Avalanche handle recently highlighted on CoinMarketCap that DeFi apps on the network are thriving big time. And protocols like UNI, Pharaoh, Benqi, and LFJ are showing sharp growth, with UNI alone leaping +97% in the past month alone. This surge has pushed Avalanche’s TVL above $2 billion, proving that builders and users are increasingly favoring Avalanche for its speed, scalability, and liquidity.
On the market side, AVAX is retailing on exchanges at $32.80, with an intraday premium of 10.6%. Its market cap has climbed by 10.55% to $13.85 billion, with trading volume at $1.62 billion. Successively, this coin has bounced between $29.44 and $33.20 in the last day, breaking a crucial technical level that could set the stage for bigger moves.
AVAX Price Analysis
AVAX price has broken out of its weekly descending trendline and is now testing a major resistance zone on the chart. Traders need to note that the breakout above the $31.05 pivot point is a key signal, backed by a 68.44 RSI-14, which suggests strong bullish momentum but also hints at overbought conditions.
Talking more about indicators, the MACD histogram at +0.508 further confirms upward momentum, showing that buyers are in control. If Avalanche price sustains this push, the next immediate resistance sits at $34.56. A clear breakout and hold above this zone could mark the beginning of a full bullish reversal.
On the downside, $29.65 stands as strong support. As long as AVAX holds above this level, bulls are likely to remain in charge. In short, Avalanche is showing both fundamental and technical strength, but traders should keep an eye on whether AVAX can decisively break the $34.5 resistance.
FAQs
Strong TVL growth, ETF optimism, and altseason rotation are fueling demand.
Resistance is at $34.56, while support is near $29.65.
The RSI near 73 suggests it’s nearing overbought, but momentum is still bullish.