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The Avalanche price plummeted 12% in the last month despite edging up a fraction of a percentage in the last 24 hours to trade at $20.41 as of 1:34 a.m. EST, with trading volume surging 32% to $352 million.
Avalanche Price Indicates Signs Of A Breakdown
The AVAX price on the daily chart reveals a falling wedge pattern, typically considered a bullish reversal setup. This pattern has developed over several months, beginning from the November 2024 highs (labeled point B) and tightening toward the present.
After bottoming around point C, the Avalanche price action has shown attempts to break above the wedge’s upper resistance.
However, rejection near point D suggests bulls are still struggling to gain control decisively, as GeckoTerminal data shows.
The price of AVAX is currently trading around $20.41, which is slightly below the 50-day Simple Moving Average (SMA), positioned at $22.07, and well below the 200-day SMA at $28.64, indicating that the broader trend remains bearish for now, but the wedge pattern may soon resolve.
The wedge is nearing its apex, and a decisive breakout above resistance could trigger a reversal in sentiment.
Meanwhile, the Relative Strength Index (RSI) stands at 44.26, hovering below the neutral 50 level. This suggests weak momentum but not outright bearishness.
The RSI has avoided oversold territory recently, implying that selling pressure may be waning.
If the Avalanche price can decisively close above the $22.07 level (50-day SMA and wedge resistance), it may trigger a rally toward the 200-day SMA near $28.64. A breakout above this level would further confirm a bullish trend reversal.
However, if the price of AVAX fails to hold the lower wedge support, Avalanche could revisit previous lows around the $16.00 area, invalidating the wedge and resuming the downtrend.
Meanwhile, investors are piling into a new Bitcoin-themed meme coin called Bitcoin Hyper (HYPER), which aims to scale the Bitcoin blockchain.
According to Crypto Boy, a popular crypto analyst on YouTube with over 61.3K subscribers, HYPER could soar 100X on launch.
Bitcoin Hyper Presale Charges Towards $1 Million In Less Than A Week – Best Crypto To Buy Now?
Bitcoin is the original blockchain, the one that started it all. Even though it’s trusted, it is not built for everything. This makes it fall behind in some areas.
BTC needs scaling, but not every solution gets it right.
Enter Bitcoin Hyper. Bitcoin Hyper is a layer-2 Bitcoin solution built on the Solana Virtual Machine (SVM). The project is now in presale and has already garnered over $818K in less than a week.
Bitcoin Hyper scales the Bitcoin blockchain by processing transactions with extremely low latency, drastically improving speed and lowering costs.
🚨 Bitcoin Hyper is now live in Best Wallet! 🚨@BTC_Hyper2 is building Bitcoin’s first Layer 2 focused on real scalability — enabling fast, cheap BTC transactions, meme coins, dApps, and more.
It’s secured by Bitcoin L1 and powered by Solana VM tech for high speed and massive… pic.twitter.com/5Ktj12RCR1
— Best Wallet (@BestWalletHQ) June 5, 2025
Furthermore, it has the SVM that allows Bitcoin Hyper to process smart contracts at lightning-fast speeds.
It means developers can build real apps like dApps, games, and NFT platforms that respond instantly and cost very little to run.
The project functions on a decentralized Canonical Bridge, which ensures seamless and secure transfers between Bitcoin’s base layer and BTC Hyper.
Apart from scalability, the team has allocated 5% of the total 21 billion HYPER token supply for rewards, offering investors an impressive 918% annual percentage yield (APY) for purchasing and staking the tokens.
Investors interested in participating in the presale can visit the official Bitcoin Hyper Token website to buy HYPER tokens for $0.011825 each using crypto or a bank card.
Buy before the next price increase in around 34 hours.
Visit the Bitcoin Hyper Token website.
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Best Wallet - Diversify Your Crypto Portfolio
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