Avalanche (AVAX): Could a 30% Price Surge Be on the Horizon?

AVAX Shows Resilience

After testing a crucial support zone, Avalanche (AVAX) has taken a proverbial leap off the couch, marking a solid rebound within just five days. The trends are looking promising as the AVAX/USD pairing gears up for a potential upward journey well into Q2.

A 30% Gain: Possible or Just Wishful Thinking?

Let’s do the math. The price of AVAX jumped from approximately $55 on April 30 to a staggering $69.50 by May 5. That’s right, grab your calculators— that’s a sleek 25% gain! Just think about it: this rebound occurred in the same support area (the $54-$60 range) that led to previous rallies of 100% and a whopping 175% back in early 2022. Could this be the start of a similar upward trend?

All Eyes on the Charts

Traders, prepare your chart analysis skills! The lower trendline of AVAX’s current descending channel—aptly resembling a