AVAX has rebounded from its $5.77 low to the $9 region, with traders monitoring key levels as derivative activity surges. Analyst SBlockSpy identified $8.75 as critical support and $10.48 as the next major resistance, noting an RSI near 73. Another analyst, Crypto Patel, outlined a long-term pattern from prior cycles targeting $150. Derivatives data from CoinGlass shows trading volume jumped 136.39% to $1.19 billion and open interest rose 28.43% to $435.05 million. Separately, Avalanche announced an entertainment partnership with Insomniac for a fan loyalty program, adding an ecosystem catalyst to the market narrative.
Avalanche (AVAX) is showing renewed strength after recovering from the $5.77 bottom area, with the token returning toward the $9 region. The move has shifted attention toward key resistance and support levels as traders assess whether the recovery can develop into a broader trend reversal.
Crypto analyst SBlockSpy said AVAX is currently showing a strong setup, highlighting $8.75 as the nearby level that needs to hold. According to the analyst, maintaining this area would keep the recent recovery structure intact.
SBlockSpy identified $10.48 as the next significant test for AVAX. A breakout above this level could strengthen the bullish structure, though the analyst warned against chasing the move, noting short-term cooling could occur.
The analyst pointed to an RSI reading near 73, suggesting AVAX has entered a relatively strong momentum zone. SBlockSpy is watching $8.70 first, followed by the $6.95–$6.43 Fibonacci support region.
Another analyst, Crypto Patel, presented a much broader outlook for AVAX, arguing the token’s longer-term structure could support substantially higher levels. The analyst said AVAX has already gained 67% from the accumulation zone and believes the broader setup remains active.
Crypto Patel mentioned breakout and retracement patterns observed in 2020, 2021, and 2024. According to the analyst, the price rose from its accumulation zone between $6 and $3 and has achieved targets of $15, $30, $50, and even $100–$150. However, he made clear that historical results cannot be used as an indicator for future performance.
Derivatives numbers indicate an impressive rise in market participants. Data shows trading volume increased 136.39% to $1.19 billion, while open interest rose 28.43% to $435.05 million. The combination of higher volume and increased open interest can result in higher volatility.
Avalanche also emphasized ecosystem developments. The chain revealed that Insomniac, an entertainment firm, has partnered with Avalanche and Rain for their fan loyalty program. On the technical front, $8.75 remains a significant near-term level, with $10.48 as a major obstacle.
