$AVAX Price Soars 8%: Will Avalanche Hit the $30 Mark Soon?

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Jimmy AkiVerified
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Jimmy has nearly 10 years of experience as a journalist and writer in the blockchain industry. He has worked with well-known publications such as Bitcoin Magazine, CCN, and Blockonomi, covering news...

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$AVAX grew 8% to $27 in a volatile 24-hour rally, only to stall at key resistance as $1B in trading volume indicated a brewing battle between bulls and bears. The Avalanche token is now teetering at a key juncture, with overbought signs threatening its push toward $30.

This rally comes as Avalanche’s ecosystem expands with major institutional adoption, including the filing of an ETF and major banking integration in the EU. However, with RSI nearing overbought levels and the volume delta fading, traders are bracing for volatility.

Key Upgrades & Institutional Buys Fuel $AVAX’s Next Rally

Avalanche is widely recognized as a general-purpose blockchain designed to host decentralized applications (dApps) across various sectors, including DeFi, gaming, and NFTs.

The Avalanche network is designed to address several key issues. Chief among these is the blockchain trilemma, which involves balancing scalability, security, and decentralization without compromising performance.

Unlike the Ethereum network, which often faces high gas fees due to scalability limitations, Avalanche offers more efficient and cost-effective solutions.

The Avalanche network is built on a unique architecture comprising three specialized blockchains, namely the Exchange Chain (X-Chain), Contract Chain (C-Chain), and Platform Chain (P-Chain).

This division allows Avalanche to achieve higher throughput and better performance compared to Bitcoin and Ethereum, which rely on all nodes validating every transaction.

Recent technical upgrades have further strengthened Avalanche’s competitive edge. The Octane upgrade substantially improved subnet interoperability, reduced latency, and introduced a dynamic fee model that cut C-Chain transaction costs by 42.7%.

Meanwhile, innovations like Avalanche9000 and ACP-194 seek to push the network’s capacity beyond 1 million transactions per second, reinforcing its scalability.

Beyond infrastructure, Avalanche has also secured strategic partnerships that could lead to further expansion of its ecosystem.

In May, it joined forces with Neo Tokyo to support Web3 game developers.

In June, Blockticity leveraged Avalanche’s AvaCloud to issue over $1.2 billion in real-world Certificates of Authenticity for industries such as agriculture and energy. Institutional interest has also grown in recent weeks.

Leading fund manager VanEck has filed for a U.S. Avalanche ETF, while California is adopting blockchain technology for vehicle title transfers. World football governing body FIFA partnered with Avalanche to launch a dedicated layer-1 ‘FIFA Blockchain.’

The platform’s institutional footprint grew further in July when Deutsche Börse Group’s Crypto Finance integrated $AVAX, providing EU banks with regulated access.

Most recently, Youmio selected Avalanche to launch the first Layer-1 chain tailored for autonomous AI agents, indicating a major convergence of AI and blockchain technology.

With these advancements pushing both adoption and technical innovation, several analysts anticipate sustained momentum for $AVAX, with price projections reaching $30 in the near term.

$AVAX/$USDT Reaches Technical Apex as Volume Signs Diverge

$AVAX/$USDT is now trading just above $27.30 after extending last week’s bullish structure into a tightening rising wedge on the 4-hour chart.

This upward grind, formed over several days of higher highs and higher lows, brings the price to a key technical inflection point, where any further upside could be met with stiff resistance.

$AVAX/$USDT price chart, July 28 (Source: TradingView)

The 30-minute candlestick chart provides a more granular view of today’s microstructure. The asset’s price action since early morning has been firm, though not impulsive.

While buyers are still in control, the size and shape of the candles have started to compress. The latest sequence reveals a pattern of smaller-bodied candles alternating between short green and red—a sign of indecision.

Although the market has yet to roll over, this type of pausing behavior often precedes sharper directional moves, particularly when it occurs near a resistance boundary like the wedge top.

From a volume perspective, the 4-hour footprint charts provide a more revealing backdrop. Earlier in the move, large green candles were matched by high positive deltas and robust total volume, a sign of confident buyers.

$AVAX/$USDT volume chart, July 28 (Source: TradingView)

But more recently, the deltas have begun to fade. The final leg of this rally, while still green, featured far less aggressive participation.

For instance, during the push to $27.28, a candle recorded a volume delta of just +54.1K on over 1 million in total trades, suggesting that buyers are now meeting substantial passive sell orders.

Additionally, the RSI, which was previously charging toward overbought levels, now sits near 71.6 on the 4-hour chart and 67.2 on the 30-minute chart, while the MACD histograms are starting to narrow despite the uptrend.

This indicates slowing momentum rather than outright reversal, yet even slight hesitation can be decisive in the context of a rising wedge.

What we’re witnessing is less of a blow-off top and more of a grinding stall. Unless buyers reclaim dominance with conviction, the structure leaves room for a breakdown toward the measured target near $16.50, a sharp downside move that aligns with the wedge’s vertical height.

For now, $AVAX remains delicately positioned, mainly buoyed by last week’s strength; however, the asset is starting to exhibit the early technical and volume-based signs of distribution.

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Avalanche
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