MFI near 68 and a bullish MACD crossover show momentum favoring buyers as support holds.
Avalanche (AVAX) is trading at $25 with a daily volume of $697 million. The token slipped 2% in the past 24 hours but is little changed over the week. The chart shows repeated failures to break above $27, confirming it as a strong resistance level since March.
Support remains between $23.90 and $22.00, an area that has held during recent pullbacks. A close below this range could open the way toward $20.5 and possibly $16. Analyst Ali Martinez noted,
AVAX has moved sideways between $22 and $27 for months, forming a clear consolidation band. Analyst James suggested this phase may soon end, saying,
“I believe this consolidation phase for $AVAX is coming to an end. The move to the upside will be a thing of beauty.”
His projection shows that a breakout above $27-$28 could lift AVAX toward $40-$44, where a long-term descending trendline sits. Until that happens, price action is expected to remain capped below resistance.
Avalanche’s C-Chain ended August with 35.8 million transactions, its second-highest monthly figure on record. The network also handled 10.9 million transactions in one week last month, the busiest since December 2023.
The C-Chain is designed for Ethereum-compatible smart contracts, supporting decentralized finance, NFT platforms, and other applications. Along with the X-Chain for transfers and the P-Chain for staking, it forms Avalanche’s three-chain system. The increase in transactions shows stronger use of applications built on the network.
The Money Flow Index (MFI) stands at 68, reflecting steady buying inflows. It is approaching the overbought zone, which starts at 80.
Meanwhile, the MACD on the weekly chart is also positive. The MACD line at 0.81 is above the signal line at -0.16, supported by green histogram bars. This shows upward momentum, giving buyers the advantage as long as AVAX holds above its support levels.
