Avalanche’s AVAX Outperforms Crypto Market in July
The price of Avalanche’s AVAX token has surged 30% over the past 30 days, showing strong momentum and outperforming both Bitcoin and the broader crypto market. During the same period, Bitcoin gained approximately 13.4%, a benchmark for major digital assets, rose by 30.1%.
AVAX’s performance signals renewed confidence in the Avalanche ecosystem, driven by increasing trading volume and a rebound in decentralized finance (DeFi) activity on the network.
Breakout From Descending Channel Indicates Bullish Reversal
According to recent technical analysis, AVAX has broken out of a multi-month descending channel, a chart pattern often seen as a sign of trend reversal. The breakout occurred on above-average volume, suggesting that buyers are stepping in with strength at key levels.
This kind of price action reflects increased interest from both retail and institutional traders, with the chart structure indicating further upside potential in the short term.
In the last 24 hours, the token dipped slightly by 0.5% to $23.63. However, on a 30-day view, AVAX has gained over 30.3%, slightly edging past the broader market average. This consistent upward momentum is viewed as a positive sign for continuation.
DeFi Growth Reinforces Positive Market Sentiment
Part of this rally may be linked to growing activity in Avalanche’s DeFi sector. As new protocols launch and liquidity increases, the use case for AVAX as a utility and staking token becomes more attractive.
The combination of technical and fundamental strength suggests that this is more than a speculative bounce. It reflects structural demand returning to the ecosystem.
Short-Term Price Target Set at $32–$35
Market analysts are turning bullish. A widely followed trader has identified $32 to $35 as a realistic short-term target for AVAX, based on the breakout pattern and rising sentiment. This target represents a further upside of around 35% to 48% from current levels.
If the market sustains its upward trend and volume remains elevated, AVAX may reach this range before the end of the month.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.