Key Factors Revealed: Avalanche (AVAX) Expected to Rise Further by 35%!

Avalanche (AVAX) has recently shown remarkable market performance, with a long/short ratio reaching 1.40, indicating strong bullish sentiment, especially as 58.3% of top traders hold long positions, further solidifying the bullish atmosphere.

Technical Analysis: Strong Bullish Signals

After breaking through the key resistance level of $30, AVAX is currently moving towards the next important resistance range. On the daily chart, AVAX's price has successfully broken through the 200 EMA resistance, transitioning into an upward trend. If AVAX can close above $32, based on historical momentum, the target price in the coming days could soar by 35%, reaching $42.5. On-chain Data: Increase in Long Positions, Active Trading

According to Coinglass data, AVAX's open contracts surged by 13.6% within 24 hours, showing that the dominance of bulls and whales is driving the price upward. Additionally, AVAX's trading volume also saw a significant increase of 26%, confirming the market's enthusiasm for this rally.

Conclusion:

After breaking through the main resistance and stabilizing above the $30 mark, AVAX has welcomed strong upward potential, with a short-term expectation of reaching $42.5. The current bullish sentiment and the long position dominance in the market structure provide a good buying opportunity for investors. Given the support from on-chain data, this rally is expected to be steady and strong.

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