Here’s why AVAX’s price may be ready for a 40% swing soon – BitRss

• AVAX ($35.05)’s price has been consolidating within a tight range, signaling potential for a 40% breakout
• On-chain metrics flashed mixed signals, but adoption and ecosystem growth can bolster optimism

Avalanche [AVAX], at press time, seemed to be consolidating near critical levels, fueling anticipation for a major move as traders closely watched the $33-$41 range for a potential breakout. At press time, AVAX was priced at $35.79, following a 0.46% daily hike on the charts. 

With analysts predicting a potential 40% price swing, the focus remains on whether AVAX can decisively break out of its $33-$41 range. Can this setup fuel the much-anticipated rally?

Is AVAX preparing for a breakout?

At the time of writing, AVAX’s price seemed to be locked in a descending triangle pattern, with support at $33 and resistance at $37. This compression in price highlighted a build-up of momentum, setting the stage for a potentially explosive move. 

If AVAX successfully breaks above $41, it could confirm bullish momentum and trigger the expected 40% price swing. However, repeated rejections at this level may trap the price in further consolidation. Hence, traders are watching this setup closely for confirmation of its next move.