Analysts Are Frothing: Avalanche (AVAX) Is Apparently the New Crypto Messiah 🚀

by

So Avalanche (AVAX) clambered past some “key level” last week—don’t ask me which key, I’ve lost the entire ring—and now it’s sizing up resistance around $27. I assume “resistance” is finance-speak for “a stubborn, semi-invisible wall that only exists to trip traders on their way to theoretical wealth.” According to self-identified analysts—people who presumably spend their evenings yelling at TradingView charts—notching above this could launch us all toward yet another so-called “key resistance.” The crypto world collects keys and resistance zones like my family collects hotel shampoos. 🧼🔑

Avalanche’s Mysterious Quest for $32

AVAX has soared almost 40% in a week, which is remarkable if you ignore the part where it cratered beforehand. We watched it boomerang from the $19 zone up to $26.84, which apparently is a three-month high, although three months ago I was still finding shreds of Christmas wrapping-paper under the couch. Just a few weeks before, AVAX hit an 18-month low at $14.66—probably because it realized that nobody, not even its mother, was paying attention.

All this drama was supposedly part of breaking a “five-month downtrend.” Can you imagine a chart that looks like the stock market version of my inner monologue during a blackout? Same energy. The coin then doodled a little Cup-and-Handle on the chart—finance people are obsessed with patterns, especially ones they can easily explain using kitchen objects. The handle apparently reached up to a $23 resistance, which is, I’m told, “clean” by some guy called Sjuul. Sjuul’s target: $32. “Super clean,” he said, probably while using a compass and a protractor on a monitor worth more than my rent.

With necklines broken and imaginary trendlines reclaimed, AVAX might rally 30% to $32. If this doesn’t make sense, don’t worry; most of crypto is interpretive dance, anyway.

Meanwhile, another analyst named CW pointed to a “sell wall” at $27, which is simply a place where people pretend to sell so everyone else panics. If it blasts past this ghost barrier, AVAX could rocket to $36, before finding itself headbutting another wall at $38.50. They’re like overly complicated parking garages—just resistance after resistance until you either reach the penthouse or drive screaming back down to $20.

If rejected by resistance, the price could revisit the downtrend line near $20, where a “support wall” awaits. This is market speak for “at this point, just lay down and take a nap.”

Will AVAX Channel Its Inner Bitcoin and Solana?

Crypto Amsterdam, who sounds as if he doles out financial advice exclusively while sipping Amstel at 10 a.m., thinks AVAX is copying the moves of Bitcoin (BTC) and Solana (SOL). There’s supposedly a “macro range” broken into five dazzlingly dramatic cycle stages. Stage one: dramatic rally to highs. Stage two: faceplant into bear-market lows. Stage three: “accumulation,” which resembles the period in my life where I steadily collected socks with holes.

Stage four: finally some higher highs, i.e., vague optimism. Stage five: a triumphant dash toward previous highs, or as I call it, “pretend like the pain never happened.” AVAX’s “super clean mini cycle” (here’s that word again) began in November 2021 with an all-time high at $146, before slumping below $20 and spending much of 2023 sulking in the corner. Then, in early 2024, it allegedly started to get its act together. By last week, after another breakout, AVAX was back in the game—the equivalent of showing up to the party two years late, pretending you were just in the bathroom the whole time.

If this soap opera continues, AVAX must first reclaim a “mid-range” around $75 to even dream about setting a new all-time high. Not to be dramatic, but if it drops below its “local bottom,” the whole elegant setup collapses like my attempts at assembling IKEA furniture without the instructions.

Read More

2025-05-15 13:21