- AVAX broke out from a falling wedge, signaling a possible trend reversal.
- Subnet innovation and Etna compatibility may boost the adoption of the Avalanche network.
Avalanche’s native token, AVAX, is forecast to outpace Bitcoin and Ethereum in price growth over the next four years. Standard Chartered initiated coverage on AVAX with a long-term target of $250 by 2029. The forecast cites Avalanche’s unique subnet architecture and growing developer activity as key drivers. Meanwhile, technical patterns suggest a potential reversal as the token consolidates above critical support.
Subnet Model And Developer Growth Support Long-Term Forecast
Geoff Kendrick of Standard Chartered explained that Avalanche differs from Ethereum and Solana in terms of using subnets or sidechains. These subnets operate independently within the leading network, aiming to deliver scalable performance without compromising speed. Kendrick said this structure improves network capacity and flexibility.
Standard Chartered projects AVAX to reach $55 by the end of 2025, rising steadily to $250 by 2029. Kendrick noted that one-quarter of active subnets are now Etna-compatible, which may encourage wider adoption. Following a significant upgrade in December, Avalanche reduced the cost of launching a subnet to nearly zero. Kendrick stated this led to a noticeable increase in developer activity and community expansion.
Avalanche ranks 15th by market capitalization at $9 billion and 10th by total value locked (TVL). Kendrick said AVAX’s current market standing allows for sharp upward moves if network improvements continue. He believes these factors could help the token outperform BTC and ETH in relative gains.
Weekly Chart Highlights Falling Wedge Breakout
At the time of writing, AVAX is trading at $19.25 after bouncing from long-standing support at nearly $9.10. According to Crispus’ analysis on Tradingview, the weekly chart shows a falling wedge pattern between November 2024 and March 2025. This structure, typically bullish, ended with an upside breakout in early April.
Source: TradingView
The token had declined from a $60 high in early 2024, forming lower highs and lows. The wedge narrowed as AVAX approached $19.10, where buying activity increased. A breakout lifted the token above $18 and pushed it toward $19.93 intraday.
Analysts view the breakout as a positive shift in sentiment. However, to signal stronger momentum, AVAX must reclaim the $25–$30 zone. The next resistance level is near $38, while support levels rest at $15 and $19.10. A move below $9.10 could suggest renewed downside pressure.According to Coincryptonews analysis, AVAX is currently consolidating between $18.70 and $20. Analysts are watching this range closely for a breakout signal. Prominent crypto strategist Ali Martinez noted that a 4-hour close outside this band could result in a 20% price swing. If it breaks above this zone, AVAX may support the bullish thesis outlined in Standard Chartered’s long-term projection.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
