AVAX tests key support zone, is a rebound on the horizon?

After having experienced a downward trend in the past three months, the avalanche community now provides for a potential optimistic reversal for Avx, driven by the developments of ecosystems and increasing adoption.

In a recent post, Trader Marzell said Its 37.6,000 km enthusiasts that AVAX was testing a key support area between $ 15 and $ 20. He mentioned that if this support is maintained and that Avax closes the week above $ 30, he could see a solid rebound, potentially reaching $ 43.84. If that exceeds this, it could climb even more at $ 58.06 and possibly $ 80.03, added Marzell.

Meanwhile, the well -known merchant Kaleo common A graph suggesting that Avax was in an accumulation area, forming a model similar to that seen in November from last year before it jumped 125%. He suggested that a similar gathering could reproduce, saying: “Something like that”.

According to Crypto.News data, from the afternoon of March 7 (Asian time), AVAX was negotiated at around $ 20.64, with a market capitalization exceeding $ 8.5 billion and a $ 24-hour negotiation volume. The token was 85.8% below its $ 144.96 summit, recorded on November 23, 2021.

Despite the significant decline in the last three months, its price lowering almost 61% compared to $ 54.18 reached on December 9 from last year, some developments could help support the resumption of Altcoin.

Several positive catalysts in play

First, the CEO of avalanche, Emin Gün Siress, suggested that he could attend White House Crypto summit Later in the day, reducing speculation that Avx could be included in the country Strategic reserve plans Crypto.

The pro -Crypto feeling winning the field among the political decision -makers of the summit, investors also bet that Avax could benefit from potential initiatives supported by the government – in particular that it aligns with the “Made in USA” story of Trump, given that the Ava laboratories whose headquarters are in New York have developed it.

Second, the avalanche community is preparing to Bring the balancer V3 in avalanche. Once integrated, this latest version of the decentralized automated market market will introduce advanced liquidity tools and new trading strategies to the Avalanche Defi ecosystem. The proposal already put in voting will end on March 11, 2025.

Third, Avalanche increased its presence in the tokenization space of real assets. According to Defillama, this is currently the 7th blockchain in volume Dex, which jumped more than 18% in last week to almost $ 1.345 billion.

Recently, an Indian city adopted The avalanche blockchain in Tokenize over 700K property records, presenting its real public service, which was well received by the Avalanche community.

Meanwhile, health data show that Avox’s weighted social feeling has become positive and has climbed since the start of the week, a sign that community trust is increasing.

AVAX price analysis

However, at the time of the press, several technical indicators flashed downward signals.

On the graph at 1 day / USDT, Avx fell under the descending trend line he formed since January 18, not freeing himself from the lower trend.

The MacD and the signal line continue to move closely while remaining below the price level, a signal that ASAX always goes through a period of consolidation.

In addition, the Arron UP indicator at 78.5% and the 0% a hob confirm a high sales pressure, which signals a dominant decrease trend.

Hence the avalanche (Avax) is likely to continue its downward trend unless the current feeling changes. During writing, he dropped by 6.5% during the last day, exchanging hands at $ 20.5 per room.