The cryptocurrency Avalanche (AVAX) has experienced a surge of over 40% and is approaching a critical supply level. Analysts and investors are recognizing the potential of Layer-1 blockchains, with AVAX positioning itself as a leading contender in the space. Prominent analyst Kaleo has shared a bullish price target of $420 for AVAX, aligning with the positive sentiment in the market. The next few days will determine if AVAX can break through this supply level and solidify its bullish trajectory. A breakout above $33 could signal a sustained uptrend and attract new investors. AVAX's recent surge above key resistance points has increased optimism for its long-term potential. The cryptocurrency is currently trading at $31.4 and breaking above its 200-day moving average. A consolidation phase and pullback could be beneficial before attempting the next major push upward. Overall, AVAX's price action appears strong and a breakout above $33 could lead to a long-term bullish phase.



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