Avalanche (AVAX) Holds $29.72 As Higher Bottoms Signal Pressure Near Key Resistance

AVAX has been exhibiting greater bottoms repeatedly, creating a bullish base despite being under pressure by a long-term declining trendline.

Price is stuck between the support of $27.97 and the resistance of $30.12, and the same has been retested severally pinpointing the significance of the levels.

A decisive move beyond resistance could validate a long-term target near $150, supported by volume concentration and structural compression.

Avalanche (AVAX) continues to trade near a decisive technical structure as the token tests the boundaries of a long-term descending trend line. The asset is valued at $29.72, with a 4.5 percent decrease in the last week. On the daily chart, price is only trapped between the support and resistance of $27.97 and $30.12 respectively. The chart, however, also points to a series of elevated bottoms, a pattern that has been continuing over several months and is also pertinent to traders who are keeping their eyes on the possibility of the change

AVAX Holds Support as Resistance Caps Upside Moves

The chart data shows that AVAX has formed successive higher lows, each establishing above the previous bottom. These levels highlight strengthening support, with $27.97 acting as the latest critical floor

At the same time, the descending resistance trend line continues to restrict upside attempts. This compression leaves AVAX positioned close to the edge of a potential breakout. The technical framework indicates that a decisive move through the resistance zone could redefine near-term direction.

AVAX is currently trading at 29.72, with a pairing with Bitcoin at 0.0002651 BTC, which is a 3.2% gain. The daily range is narrow and is limited to between 27.97 and 30.12 and both are defining the short-term market judgment. It is important to note that AVAX has revisited these areas many times implying that the traders still value the structural significance of such price levels. Volume patterns confirm that interest remains concentrated around these zones. This balance underscores the significance of upcoming sessions.

Market Implications and Potential Trends

The chart projection sets a potential target at $150 should a breakout materialize beyond the descending resistance. This figure reflects the broader technical setup outlined by long-term compression. Importantly, the repeated higher bottoms add weight to the argument for a potential upward extension. However, the ability to sustain levels above $30.12 remains pivotal in validating such momentum. Until then, price remains contained within the current structure.