Avalanche’s native token, AVAX, is picking up steam in the crypto market, rising more than 11% on Monday.
Its price is currently trading above $21, which is a strong rebound. This uptrend follows a rally of almost 19% in the previous week, which indicates increasing investor optimism in AVAX. Despite the recent rally, AVAX remains down 85% from its all-time high of $146.22 in November 2021.
AVAX’s breakout over its downtrend line, a significant resistance level since December 2021, is one of the primary causes of this price increase.
The cryptocurrency earlier tried to break above this resistance in November 2024 but dropped back below it in February 2025. However, this time around, bulls have managed to drive the price above the local declining trendline, which confirms the bullish outlook.
Technical indicators also confirm the rising trend. The Relative Strength Index (RSI) is at 53 and rising, showing rising buying pressure. The Moving Average Convergence Divergence (MACD) indicator also recently showed a bullish crossover, which points toward strong momentum for further gains in price.
Another positive indicator is AVAX’s increasing long-to-short ratio, which is now at 1.18—the highest point in more than a month, as per Coinglass. The higher the ratio, the more traders expect increases rather than decreases in price.
Coinglass statistics also demonstrate a change in funding rates, from negative to positive, at -0.0065% on Friday to 0.0051% on Monday. The implication is that long-positioned traders pay the short-positioned traders, contributing to the general positive sentiment.
If AVAX keeps this up and closes above the crucial resistance level of $20.99, it may push to $24.99, which is a possible 17% increase. A breakout above this might be the beginning of a 20% rush to the major psychological level of $30.
The latest price action indicates that bulls are taking control, even if AVAX still faces price resistance at $21.80 and a long-term decreasing trendline in 2021. In the upcoming months, AVAX’s price may surpass $55 and $65 if the current trend holds.
Also Read: Is AVAX Headed for $24? Whales Bet Big as ETF Hype Builds
