AVNT Holds Ground at $0.2732 As Analyst Projects Upcoming Bullish Jump To $1

Avantis (AVNT), a cryptocurrency powering is Avantis’ decentralized derivatives protocol, is showing potential to experience a massive pump ahead, according to a revelation disclosed today by market analyst RoccoBullBottom. As hinted by the analyst, the perpetual DEX token is heating up, showing strong capability to shoot significantly and even surpass the $1 mark.

Avantis has been experiencing difficulties due to increased volatility currently being noticed in the wider crypto market. AVNT has been down 3.9% and 26.8% over the past week and month, respectively, making its price currently stand at $0.2858 and an indicator of its downturn. If the token can jump to $1 as the analyst projects, this signifies that the asset is set to register a potential 249% spike, an immense growth for long-term investors.

Why Avantis Is Gaining Momentum

According to the analyst, Avantis is displaying resilience by holding above crucial support levels, despite experiencing market volatility. Based on the data, Avantis has maintained its support around $0.2732 for a week now, a technical strength that signals that active buyers are showing interest and beginning to enter the market. This support level functions as a psychological safety net for buyers (investors).

AVNT is consolidating above this mid-range support, a level that it continues to maintain. This stability shows underlying market enthusiasm, decreasing the risk of huge downfalls. The ability of this crypto to defend this support level indicates a robust likelihood of upcoming upward momentum.

As per CoinGecko metrics, the perpetual decentralized exchange (DEX) native token (AVNT) has been recently consolidating around $0.270 and $0.285 in support. Today, it witnessed a 2.84% surge in price and a 25.75% increase in its trading volume, recorded over the past 24 hours, reflecting increasing confidence in the perpetual DEX token.   

According to CoinGecko data, Avantis is currently the 12^th largest perp DEX coin by market capitalization, following GMX (GMX), Arkham (ARKM), dYdX (DYDX), Raydium (RAY), Lighter (LIT), Jupiter (JUP), PancakeSwap (CAKE), MYX Finance (MYX), Aster (ASTER), and Hyperliquid (HYPE).

AVNT Tests Support in Bullish Falling Wedge

Based on the trading chart, Avantis appears to be following a falling wedge, a technical formation that makes the analyst convinced that an incoming breakout could be a powerful one. The analyst shared a falling wedge that Avantis is trading inside on a weekly chart.

The asset is holding the support levels of a falling wedge pattern, a technical setup historically regarded as bullish. This pattern, which forms when an asset’s price trades between two converging trendlines, suggests a potential bullish reversal as prices reduce the ongoing downtrend and develop a looming uptrend.

Aventis has been trading within this wedge, and is currently near the upper boundary of the pattern (the wedge). According to the analyst, a breakout from this pattern could trigger massive upward movement, with the target possibly climbing to the $1 level.