AVNT breaks out of descending channel, hinting at trend reversal | Credit: Hameem Sarwar
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Key Takeaways
After dropping 45%, AVNT’s price found support near $1 and broke above its descending channel.
The AO is flashing green bars, while Sentiment has climbed — pointing to fading bearish pressure.
Avantis’ price could target $1.54, with a highly bullish case pushing toward $2.06 in the short term.
Avantis (AVNT) avoided a major breakdown this week as the token found support around the $1 level. Over the last seven days, Avantis’ price has fallen nearly 45% with some market participants expecting a further decline.
Fortunately for the token holders, that did not happen. Instead, AVNT’s market value bounced off the swing low, with indicators revealing that the asset’s rally is back on course.
Avantis Holds the Line
On the 4-hour chart, Avantis price had been trapped in a descending channel, with the altcoin consistently printing lower highs and lower lows. This structure kept the altcoin’s price under steady bearish pressure for several weeks.
But today, that has changed. As of this writing, AVNT has broken above the channel’s upper trendline, signaling that buyers are finally regaining control and hinting at a possible trend reversal.
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Meanwhile, the Awesome Oscillator (AO) remains in negative territory, indicating that broader momentum remains weak.
However, the indicator has begun printing a series of consecutive green histogram bars. This development suggests that bearish momentum is fading, and bullish strength may be building beneath the surface.
If this trend continues, the AO could flip into positive territory, further supporting AVNT’s price to retest the supply zone at $1.46.
Looking beyond the technical outlook, on-chain data shows that Avantis’ Weighted Sentiment has bounced to 1.10.
This positive rating indicates that overall market conversations about AVNT have shifted to an optimistic tone, with bullish commentary now outweighing negative remarks.
A rebound in sentiment works as a leading indicator for price action, since traders tend to respond quickly to changing narratives.
In this case, the rise to 1.10 suggests that confidence in AVNT is rebuilding, which could fuel additional buying pressure.
If this sentiment improvement continues alongside the recent technical breakout, Avantis’ price may gain the momentum needed to sustain a rally toward higher resistance levels.
On the 1-hour chart, AVNT’s price is on the verge of breaking above the upper trendline of a symmetrical triangle. This setup typically signals a period of consolidation before a big move.
In this case, momentum looks to be leaning bullish. Adding strength to the outlook, the green line of the Supertrend indicator has flipped below the price, reinforcing a buy signal.
Should this trend persist, Avantis’ price may break the resistance at $1.35. Once successful, the altcoin’s market value might rise $1.54.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
