AVAX Avalanche: Will It Soar to $45 or Crash Like a Clumsy Penguin? 🐧💥

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Oh, gather ’round, dear friends, for the tale of AVAX Avalanche is one of mystery and intrigue! While the rest of the crypto world takes a snooze, AVAX is up to some rather cheeky antics, quietly making big moves behind the scenes. With daily transactions soaring past a whopping 1.2 million, it’s starting to look like the star of the next breakout rally! 🎉

AVAX Ranks Among Top Chains for Transaction Growth

In this sleepy market, AVAX is still strutting its stuff with some impressive on-chain numbers. According to the wise folks at Nansen, AVAX has pulled off a dazzling 26% spike in transaction growth, just behind Unichain in the latest EVM chain rankings. And get this—these numbers are climbing higher even as active addresses take a little nap! 😴

By mid-May, Avalanche was averaging a mere 300,000 transactions a day. But fast forward to June 15, and that number has skyrocketed past 1.2 million! Nansen’s latest chart shows a clear ramp-up, with successful transactions climbing like a cat up a tree. Only for a brief moment did failed transactions spike around June 2nd, but since then, success rates have stabilized. It seems our dear network not only scaled quickly but handled the load like a pro! 💪

Avalanche Price Within a Symmetrical Triangle

While Avalanche flexes its muscles on the network side, the price chart is preparing for a potential breakout of its own! As the clever CryptoOx points out, AVAX is dancing inside a long-term symmetrical triangle on the weekly timeframe. 💃

Currently, the price is testing triangle support near $18 to $19, which aligns perfectly with previous weekly demand zones. If this level holds, we might just see a bounce that stretches toward the upper resistance trendline near $30. Fingers crossed! 🤞

Looking back, this structure has been in play for nearly two years! The RSI on the weekly is as neutral as a cat on a fence, giving AVAX plenty of room to wiggle if momentum builds. Potential targets could extend to $55 and even $120 over time, but let’s not get too carried away—those levels depend heavily on confirmation and the whims of the broader market! 🎢

Avalanche Price Prediction Eyeing a Fractal Repeat

The latest AVAX chart from CoinsProbe adds more weight to this already rich setup. AVAX is now seeing a familiar structure repeat: a falling wedge nestled within a broader descending channel, just like the one that preceded its last major rally. How delightful! 🎈

In the previous rally, the breakout led to a clean 100% move. And now, the same formation is taking shape again near key support around the $19 level, which already lines up with the lower bounds of the multi-month support region. AVAX is respecting the downtrend resistance while printing higher lows, showing signs of sellers’ exhaustion. If the breakout mirrors the previous one, the next major resistance zones sit near $38 and $45. Exciting times ahead! 🚀

Diverse Views Emerge as AVAX Tests Key Neckline Support

But wait! Not everyone is leaning bullish just yet. A fresh chart from Chill Trader throws a caution flag with a textbook Head and Shoulders pattern now showing up on AVAX’s 4H chart. The neckline support around $18.7 is crucial here. If that level gives way, things could turn as sour as a lemon for AVAX, with potential downside targets mapped as low as $13.8 and even $12.2. Yikes! 😱

This doesn’t invalidate the larger bullish structure on higher timeframes, but it does call for caution, especially if $18.7 breaks with conviction. AVAX bulls need to hold this neckline and bounce back quickly, or else short-term momentum could flip against them like a pancake! 🥞

Final Thoughts: Bullish Scenario or Bearish Outlook?

AVAX is standing at a major crossroads, my friends! On one hand, its on-chain growth and repeating bullish chart patterns suggest a strong breakout could be emerging, possibly toward the $38 to $45 zone and even higher with momentum. On the other hand, short-term charts are flashing caution signs, with bearish patterns like the Head and Shoulders forming on lower timeframes. It all comes down to how AVAX reacts around the $18.7 support. If the bulls hold the line, Avalanche price could be gearing up for its next big leg! 🦵

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2025-06-16 18:16