AVAX market now bullish, bulls targeting $32
As prices successfully crossed short-term resistance levels, the bears suffered a major setback. After months of silence, AVAX seems to have quietly opened an upward channel. Its strong performance since this month is the best proof. It has firmly reached a new level of $27.
If the current rebound momentum can be maintained, AVAX is expected to attack $32 in the short term. The bull camp may gain further momentum through the short-term liquidation wave. The market has high expectations for whether the key price of $27 can become the starting point for a reversal.
Market data also revealed positive signals behind AVAX. According to Hyblock Capital analysis, between September 23 and 24, the net short position on Binance surged, but a significant increase in buying volume followed immediately. This may be the key factor that pushed AVAX to break through the resistance. Meanwhile, long positions rebounded quickly after a brief decline, showing a rapid shift in market sentiment.
In the past 24 hours, AVAX has seen a wave of liquidations near $28.20. The heat map shows that liquidity in this area has improved, but the subsequent trend remains to be seen, and it is still doubtful whether the strong momentum can be continued. However, despite this, AVAX bulls do have a certain advantage in the short term, but the slight correction (2.71%) in the past 24 hours also reminds investors to be cautious.
Currently, AVAX is trading at about $27.67, and its chart pattern shows a positive "cup and handle" pattern, which is often seen as a precursor to a new upward cycle in the market. If this pattern is confirmed, AVAX may continue to be bullish in the coming weeks and months.
Judging from on-chain data, the demand side of AVAX is also showing a positive trend. The net inflow of large holder addresses reached a high of 4.97 million this week. Although it fell back later, it still remained at a high level, far exceeding the outflow during the same period. This data further confirms the dominance of bulls and the market’s optimistic expectations for AVAX’s future performance.
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