Bitcoin

Avalanche

<ul>
 <li>Avalanche (AVAX) has surged over 8% from the low of $25.25 to the high of $27.38.</li>
 <li>AVAX is targeting $30, signaling the potential for further gains upon breakthrough.</li>
</ul>
Amidst a backdrop of green across the global crypto market charts, Avalanche (AVAX) continues its upward momentum, breaching the $23.50 mark. The AVAX market sentiment remains positive amidst its push toward the $30.25 resistance level.
In the past 24 hours, AVAX has surged over 8.43%, reaching a high of $27.38 from a low of $25.25. It is currently trading at $26.86 with a market cap of $10.60 billion. However, AVAX’s daily trading volume declined by more than 28% to $294 million.
<h3 class="wp-block-heading" id="h-avax-eyes-breakthrough">AVAX Eyes Breakthrough</h3>
Following a recent dip to a <a href="https://thenewscrypto.com/avalanche-avax-price-dips-10-after-major-sell-off-concerns/" target="_blank" rel="noopener noreferrer nofollow">yearly low</a> of $22.32 on July 5th, AVAX found strong support near $23.85, establishing a base above $25 before commencing its upward trend. The bullish momentum is underlined by AVAX’s price crossing above the 100-day simple moving average (SMA) on the 4-hour chart, suggesting potential for further gains toward the $30.25 resistance.
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" width="1024" height="515" src="https://thenewscrypto.com/wp-content/uploads/2024/07/image-57-1024x515.png" alt="" class="wp-image-102918" srcset="https://thenewscrypto.com/wp-content/uploads/2024/07/image-57-1024x515.png 1024w, https://thenewscrypto.com/wp-content/uploads/2024/07/image-57-300x151.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/07/image-57-768x386.png 768w, https://thenewscrypto.com/wp-content/uploads/2024/07/image-57.png 1297w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">Avalanche (AVAX) Price Chart (Source: <a href="https://in.tradingview.com/symbols/AVAXUSDT/?exchange=BINANCE" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>)
 </figcaption>
 </figure>
</div>
On the daily chart, AVAX remains above the 100-day SMA and is poised for a <a href="https://thenewscrypto.com/avalanche-avax-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">bullish move</a>. The immediate resistance levels are anticipated to be near $27.98 and $28.50, with a breakthrough above $28.50. Breaching $28.50 would potentially accelerate the price above $30.00 or even $35.00.
However, failure to sustain above key support levels, notably $26.30, could trigger a downside correction. Initial support is expected around $25.50, with further declines possibly targeting $25.00 and $24.20 levels. Overall, AVAX’s recent price movements reflect a bullish sentiment in the market.
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Will Avalanche (AVAX) Rebound to $30 This Week?

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