The Fed's Impact on Avalanche Coin ((AVAX)) Price

Avalanche shares have soared 25% since last Wednesday, driven by the Federal Reserve's announcement of a 50 basis point rate cut. This has pushed AVAX into key resistance levels, which could impact its price action in the coming weeks. Currently trading around $28, the coin is testing a key supply area, with analysts and investors keeping a close eye on its next move.

Many market participants are optimistic that a break above this resistance level could pave the way for a significant increase in AVAX price. This could push AVAX into a new uptrend, potentially leading the coin to new highs or even a 50% surge. However, if the Avalanche fails to break above this level, a pullback is possible, causing the price to retest previous support.

Analysts stress that this moment is crucial in determining the market direction of AVAX as more is expected in the wake of the Fed’s recent decision Broad cryptocurrency sentiment has turned more optimistic. As trading volume and investor interest increase, the next few days will be key in determining whether Avalanche can maintain its momentum or face a near-term correction.

Avalanche tests key supply levels

Avalanche is one of the best performing altcoins in recent days, after It showed impressive strength amid a surge in the broader market. The recent momentum may be just the beginning of more significant moves by AVAX, as analysts and investors expect even bigger gains if the token continues to break through key supply levels.

Carl Runefelt, one of the most respected figures in the cryptocurrency space, shared a bullish technical analysis on Avalanche on X, noting AVAX The falling wedge pattern, a classic indicator of bullish price action, has been broken out.

Based on his analysis, AVAX successfully retested the wedge and is now targeting mid-term price levels. Runefelt’s AVAX price targets are $28, $33, $41.30, and 54 USD, each price target represents a key supply area that the coin needs to surpass to continue its upward trajectory. If AVAX hits $41.30, it will be higher than the current price 50%, marking significant progress.

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