Avalanche (AVAX) Rally Odds: Metrics Suggest Bullish Momentum

Avalanche (AVAX) retests key support level at $31, sparking potential bullish trend.

Key Statistics:

- 3.78% gain in 24 hours.
- 58% of AVAX holders in profit.
- High social volumes.
- Bullish bias in liquidation data.

Technical Analysis:

- Consolidation phase absorbed selling pressure.
- Potential northbound breakout.
- Key support level: $31.

On-Chain Metrics:

- IntoTheBlock: 58% holders in profit.
- Santiment: Surging social volume.
- Coinglass: Bullish bias in liquidation data.

Potential Outcomes:

- Sustained bullish momentum above $31.
- Breakout above resistance: $35-$40.
- Failure to hold $31 support: Pullback to $28.

Avalanche's resilience and bullish metrics suggest a potential rally. Investors should monitor key support levels, social sentiment, and liquidation data to confirm sustained momentum.