AVAXUSD Market Analysis – August 28
Avalanche (AVAX) is beginning to show signs of bullish accumulation as price shifts structure and builds momentum toward higher resistance levels.
AVAXUSD Key Levels
Support Levels: $29.00, $15.70
Resistance Levels: $38.40, $53.00
AVAXUSD Long-Term Trend: Bearish
In March 2024, Avalanche formed its first significant major high, which triggered an extended bearish trend that persisted until September 2024 when a major low was established. Price later produced another notable high in December 2024, only to face renewed selling pressure that drove it below the previous low.
This sequence of lower highs and lower lows confirmed the dominance of the bearish structure, reinforcing the broader downtrend. However, a recurring pattern in price action has been elongated bullish recoveries following major lows. True to this pattern, price has recently initiated a bullish structure shift, suggesting the early stages of an accumulation phase.
Although the bullish trend remains in its formative phase, momentum is expected to expand further, with price likely to reclaim the $29.00 level. From there, attention will turn to the overarching bearish trendline resistance, which serves as the next critical hurdle for a sustained reversal.
AVAXUSD Medium-Term Trend: Bullish
On the 4-hour timeframe, Avalanche currently reflects stronger bullish momentum as price rebounds from the $15.70 demand zone. This upward movement positions price to retest the $29.00 level, with expectations of surpassing it and extending toward the $38.40 supply zone.
Confluence for the bullish outlook is further supported by price trading above the 4-hour Moving Average, strengthening the case for continued upward expansion. If momentum holds, Avalanche may soon transition into a broader bullish phase, challenging higher resistance levels.
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