Avalanche's Total Value Locked (TVL) on its C-Chain has surged to $1.5 billion in mid-April 2024, marking its highest level since October 2022. This growth is attributed to Avalanche's Memecoin Rush program, which has spurred increased activity within the AVAX ecosystem.

Despite reaching a 12-month high of $61.00 in March 2024, AVAX saw a significant drop to around $35.00 by mid-April, reflecting a 44% decrease over the past month. The Relative Strength Index (RSI) indicates that AVAX is currently in a consolidation phase, lacking clear signs of divergence.

Experts point out that Avalanche has strong support at the $30.00 mark. Maintaining this support level is crucial for an upward trend. However, AVAX faces substantial resistance at $40.00. If the token manages to surpass this resistance, it's projected to trade above $50.00 by mid-2024.

Market conditions will play a pivotal role in determining Avalanche's bullish momentum. Should AVAX fall below the support level, experts anticipate it could trade around $25.00 by mid-2024. Amid these market dynamics, experts recommend keeping an eye on $ROE, a new ICO, as it's expected to offer higher gains.