‎Avalanche Shows Early Signs of Bullish Accumulation

‎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.
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‎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.
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‎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.
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‎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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