AVAX Price Breakout: Double-Bottom Fuels Bullish Targets Ahead

3 mins mins

Key Points

AVAX confirms breakout with double-bottom pattern; trades near $30 with +1.97% weekly gain.
Analyst sets AVAX targets at $56, $85, $145, and $302, projecting +1,400% upside potential.
AVAX outperforms SOL as top altcoin; strong metrics and volume support bullish continuation.

Avalanche (AVAX) confirms a major bullish breakout with price currently trading at $30.02, gaining +1.97% over the past week. The move follows a confirmed double-bottom structure near $22–$23, with a strong weekly close above key resistance at $28–$29.

Double-Bottom Structure Confirms Reversal Signal

AVAX formed a clear double-bottom pattern with two successful rebounds from the $22–$23 support zone, showing strong buying interest. The breakout above the neckline at $28–$29 confirms a bullish reversal and improves short-term sentiment.

AVAX weekly Double Bottom Pattern | Source : X

Current price action sits around $30, suggesting a retest of previous resistance as potential support. If confirmed, this setup offers a constructive entry zone for continuation trades.

Upside targets include $31.15, $38.70, and $47.94, representing potential gains of +3.7%, +29%, and +59%, respectively. Volume has also increased, reinforcing breakout strength and adding confidence to the bullish scenario.

Analyst Projections and Market Leadership Add to Bullish Case

Technical analyst Crypto Patel views this as a mega breakout from a multi-year accumulation and descending channel. He identifies extended liquidity targets at $56, $85, $145, and $302, from the current price of $29.98.

These levels represent projected gains of +87%, +183%, +384%, and +900%+, with some projections estimating a potential +1,400% upside. The reversal setup places AVAX in a strong position if broader market sentiment remains positive.

Market leadership metrics now support this thesis. AVAX outperforms Solana (SOL) with a relative gain of +16.42%, slightly above SOL’s +16.27%, signaling a shift in momentum.

Other majors show moderate strength: HYPEH (+14.17%), BNB (+12.12%), and PAXG (+10.15%), while laggards include XRP (-7.9%), SUI (-10.34%), and XLM (-15.66%). The performance spread underscores AVAX’s rise as the current top-performing major.

On-Chain Metrics and Market Performance Remain Strong

AVAX shows strong longer-term momentum, gaining +15.64% in 7 days, +19.62% over 30 days, and +65.16% in 90 days. Six-month performance stands at +60.13%, while the yearly gain is +27.53%, despite a -15.96% YTD decline.

Market cap is $12.68B with 422.28M tokens circulating out of 715.75M total supply. Spot volume sits at $218.95M, and futures volume reaches $2.19B, backed by $1.34B in open interest.

Long/short ratios are bullish, with OKX at 3.34 and Binance at 3.80, reflecting leveraged expectations of further gains. AVAX now outperforms Solana, becoming the top-performing major altcoin with +16.42% vs. SOL’s +16.27%.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.