Avalanche (AVAX) The cryptocurrency market has recently attracted attention, with the current price fluctuating around 33.75 dollars, showing a slight fall of about 1% within 24 hours. Although AVAX has achieved a significant increase of 43% over the past month, it is currently facing noticeable resistance in the 35-36 dollar range.

Market analysis indicates that AVAX is in a critical technical position. The support level around 34 dollars has been validated multiple times, while 38.40 dollars is seen as an important macro resistance level. If this level can be broken, AVAX may replicate the bullish trend of the past.

The development of the ecosystem supports AVAX. AgriFORCE has been renamed to AVAX One and transformed into a Nasdaq-listed company focusing on Avalanche, planning to raise a large amount of funds. At the same time, the Avalanche Foundation is also actively raising funds to establish a cryptocurrency fund management platform in the United States. On the application level, South Korea's BDACS has launched the KRW1 stablecoin based on the Avalanche chain, and Ava Labs has also collaborated with Toyota Blockchain Lab to develop a mobile open network for future mobility.

From a technical analysis perspective, AVAX has been in a macro wedge pattern since the beginning of this year. The current trend has touched the resistance level of $38.40 at the upper edge of the wedge. The monthly closing price will be a key indicator for determining the future direction of the market. If it can break through and hold this level, it may signal the continuation of a bullish trend. Conversely, if it fails to break through, it could lead to a price pullback to the $29-30 range, or even lower to the $23.6 level.

For investors, closely monitoring the monthly closing and the market dynamics in the 35-36 dollar range is crucial. This will help determine whether AVAX can maintain its strong performance or if it will enter a longer-term bottoming phase. In any case, the future trend of AVAX is worth the continuous attention of market participants.