Avalanche ( AVAX ) price prediction: on-chain rise and technical resonance, next target 32 dollars

AVAX has finally broken out of months of consolidation, exciting investors. Market experts believe that with strong on-chain rise and positive signals from technical indicators, the Token may be gearing up to launch towards the price range of $32 to $36.

AVAX has strong momentum in the Real World Assets (RWA) space

RWA and Stablecoin Growth: The total value of RWA on the Avalanche network is currently $305 million, having risen by 57% in the past month. Meanwhile, the market capitalization of stablecoins on the network has reached $2.68 billion, growing by 30%. This data highlights Avalanche's expanding role in connecting traditional assets with the decentralized finance (DeFi) space.

Increased Participation: Analyst Coop pointed out that this rise is reflected not only in value but also in participation. The number of RWA holders has climbed to 7,700, and the number of stablecoin holders has exceeded 3.4 million, indicating that the network is steadily expanding in both institutional and retail participation.

AVAX weekly chart has issued a breakout signal

(Source: TradingView)

Ascending triangle structure: AVAX is closely consolidating below a significant resistance area around $27, forming an "ascending triangle" structure on the weekly chart. The continuously rising lows indicate that buyers are gradually entering the market, building pressure for a potential breakout.

Technical Objectives: The daily chart shows that AVAX has cleanly broken through the $27 area, and the moving averages have confirmed a bullish crossover. The short-term rise targets are $32 and $36, and if momentum continues, the longer-term target may look towards above $40.

AVAX on-chain activity hits a new high in 20 months

Trading volume surges: The Avalanche network has just recorded its strongest on-chain performance in nearly two years. As of the end of August, its weekly trading volume skyrocketed to 13.3 million transactions. Additionally, on-chain data shows that DEX trading volume has surpassed the $3 billion mark, which not only indicates increased activity but also represents that more liquidity is flowing into the network.

Fundamental drivers: Analyst Rand pointed out that such a surge in on-chain activity often signals a stronger market trend, as the rising network demand usually aligns with a bullish technical indicator.

Conclusion

AVAX has recently broken out of a prolonged consolidation period lasting 213 days, marking a return of its volatility and trend strength. The synchronous strengthening of technical breakthroughs and fundamentals provides a strong bullish narrative for AVAX. As on-chain rise reaches a multi-month high, and the price successfully breaks through key resistance levels, the token appears ready to enter a brand new expansion phase, setting its sights on higher price ranges.