AVAX Pre-Bull Run: Potential New ATH by Early 2025

Grayscale Investments and Positive Market Sentiment

Grayscale Investments has recently launched the Grayscale Avalanche Trust, along with 20 other crypto investment products such as Solana, Litecoin, Stellar, Zcash, and Chainlink. This move has generated positive market sentiment, reflected in AVAX’s bullish advance toward the interim resistance zone between $28.29 and $30, up from lows below $20. The current price action suggests a preparatory phase that could lead to a significant upswing.

Long-Term Price Action and Consolidation

Long-term analysis indicates that AVAX is nearing the end of its accumulation phase. The token is mirroring the consolidation pattern observed before the 2021 bull run. A breakout from the current trading range could attract substantial bullish interest, potentially triggering a price surge that might evolve into a bull run. However, it is important to note that the target price remains slightly elevated, as the bullish momentum is not fully established yet.

Technical Indicators and Future Prospects

Technical indicators show mixed signals:

• The Bollinger Bands are converging but do not yet indicate imminent expansion, which may suggest a future breakout.
• The Directional Movement Index (DMI) levels are approaching a potential bullish crossover, though this may take some additional time.

As a result, AVAX’s price may continue its upward consolidation and potentially surpass the interim resistance zone. Breaking above the average bands of the Bollinger Bands and rising above the 0.236 Fibonacci retracement level could validate a surge beyond current bearish influences.

Conclusion: ATH Potential in Early 2025

Considering the Fibonacci levels and current market conditions, Avalanche (AVAX) has the potential to reach a new ATH above $154 in early 2025, provided the price breaks out of its current consolidation phase before the end of Q3 2024.