Avalanche (AVAX) Price Prediction: On-Chain Metrics Show Undervaluation Near $20 as Technicals Hint at Recovery

AVAX Avalanche price is trading just above $20, sitting at a key support zone while attention shifts to its upcoming ETF decision. The SEC has pushed Grayscale’s AVAX ETF review to July 15, 2025, a delay, but one that keeps Avalanche in the spotlight and on the radar.

Avalanche’s current price is $20.62, down 1.37% in the last 24 hours. Source: Brave New Coin

Price action remains cautious, but the setup is getting interesting. AVAX is testing a familiar trendline that’s held strong in the past, while on-chain signals suggest it’s not overvalued. With sentiment slowly turning and technicals tightening, it’s a moment that could get stronger.

A fresh wave of attention is building around AVAX Avalanche price as the SEC sets a new review date for Grayscale’s proposed spot ETF. According to a recent update by The Degen Times, the regulatory body has locked in July 15, 2025, as the day it will make a decision that could significantly influence AVAX’s market outlook.

AVAX remains in the ETF spotlight as SEC sets a new decision date for July 15, 2025. Source: The Degen Times via X

While this isn’t the first time the SEC has delayed such rulings, it does keep AVAX in the ETF spotlight. Even without an immediate impact, just being part of the ETF conversation can help shape sentiment and keep AVAX on the radar.

As ETF chatter emerges, AVAX Avalanche price is also approaching a pivotal technical point. Analyst Cantonese Cat highlighted how AVAX has returned to test a familiar trendline, one that previously acted as solid support during May’s recovery. The price is now hovering just above the $20.50 level, which intersects that very trendline, making this a potential bounce zone or a break point for lower continuation.

AVAX hovers near key trendline support around $20.50. Source: Cantonese Cat via X

If the trendline holds once again, bulls might try reclaiming levels toward $22.80 and eventually the $27 region. However, failure to defend this zone could open up a slide toward $18 support.

While the price action hovers near key support, on-chain data is quietly tilting in the bulls’ favor. According to Into The Cryptoverse, AVAX’s short-term Bubble Risk has dipped below the 1.0 mark, into the “bearish” zone, which historically indicates reduced overvaluation pressure.

AVAX Bubble Risk drops below 1, signaling a potential undervalued zone. Source: Into The Cryptoverse via X

Avalanche price is not overheated right now, and this type of reading often appears during local bottoms or consolidation phases before a larger move takes shape. The current reading of 0.916 implies AVAX could be in a relatively undervalued state, especially as it tests a major trendline on the chart.

After the recent ETF update and a key technical retest, AVAX continues to draw attention. Cryptoshi’s latest post highlights that AVAX remains firmly on his watchlist, signaling growing interest as altcoins begin to look more appealing. With the price hovering near a long-tested support and on-chain data pointing to undervaluation, the timing feels aligned. Momentum may still be building, but AVAX Avalanche price is quietly positioning itself for a potential recovery.

AVAX remains on Cryptoshi watchlists. Source: Cryptoshi via X

Adding to the technical picture, Bitcoinensus shared a zoomed-out weekly chart suggesting a classic bull flag setup in development. This ties into the broader Avalanche (AVAX) price prediction, as the chart shows price steadily climbing toward the upper edge of the flag. If confirmed, a breakout could propel AVAX beyond the $30 zone in the long term. A clean breakout from this structure could shift sentiment decisively, especially as macro narratives like the ETF build in the background.

AVAX weekly chart hints at a developing bull flag, setting the stage for a potential breakout toward $30. Source: Bitcoinensus via X

Between the July 15 ETF decision, key trendline support, and a potential bull flag setup on the weekly, AVAX is stacking up interesting variables. The recent dip in Bubble Risk further adds to the narrative that Avalanche price isn’t overheated and could be quietly resetting for a larger push.