Key Insights:

• AVAX rebounds strongly from the $12 support level as bulls defend this key zone and push for an upside breakout.

• Despite trading above a critical support area, a bearish rising wedge pattern signals caution in the near term.

• The $26 target remains in focus, but a confirmed breakout and strong volume are still required to validate further upside.

Avalanche (AVAX) is showing renewed strength after rebounding from its $12 support zone. The asset is currently trading around $13.56, posting a nearly 11% gain over the past 24 hours. Traders are closely monitoring price action as AVAX attempts to confirm a breakout from recent chart patterns. The market’s focus now shifts to whether the asset can sustain its momentum and advance toward the next key resistance levels.

AVAX Holds Firm Above $12 Support as Bulls Eye a Potential Move Toward the $26 Range

AVAX price remained above the critical $12 support level.

The $12 support zone has been a crucial level for AVAX over recent months. According to Open4Profit, the price is currently trading above this area, and holding this level is essential for a potential bullish continuation.

This zone has acted as a key pivot in previous sessions, with bulls once again attempting to defend it. As long as AVAX remains above this level, traders may continue to anticipate upside momentum.

AVAX Possible Bullish Momentum | Source: X

Downward trends indicate that short-term investors should exercise caution.

Without a confirmed breakout, price action may remain in a consolidation phase for the time being. While AVAX is still trading within a broader bearish structure, the recent move above the $12 level has attracted renewed attention from both long and short traders.

However, despite price holding above key support, not all signals point to a bullish outlook. A rising wedge has formed on the chart, a pattern commonly regarded as bearish.

Crypto trader CryptosBatman commented, “AVAX has not only rejected its previous support level but has also broken down from a rising wedge, a classic bearish continuation pattern.”

Rising Wedge Pattern | Source: X

This breakdown could signal potential short-term weakness. The analyst suggested that the move may present a short setup for traders seeking to hedge long positions. Market participants are now closely

watching whether AVAX can reclaim the trendline or if the price will retreat toward lower support levels.

The target is in the $26 range, but confirmation of the breakout is needed.

Furthermore, if AVAX can sustain its momentum and break above the current trendline resistance, buyers may begin targeting the $26 range. This level represents the next major resistance on the chart and would require strong volume and clear confirmation to approach.

Price action in the coming sessions will be crucial in determining the asset’s next direction. A decisive move above current resistance could open the door to further gains. Until then, traders are closely monitoring both bullish and bearish scenarios as market volatility increases.

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.