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2024/12/11 07:50

Avalanche (AVAX) Price Analysis

Avalanche (AVAX):
Avalanche (AVAX) has been on a consistent bullish run over the past month, culminating in a major breakout from a Descending Triangle pattern that lasted nearly 3 years. The breakout occurred on Nov. 27, 2024, when AVAX broke above its descending resistance trendline. This move pushed the price to a high of $55.79, marking a significant upward move.
AVAXUSDT_2024-12-10_18-13-18.png
With the market’s recent correction, AVAX successfully retested the descending resistance line near the $41 level, which has now turned into strong support. This retest confirms the breakout as valid and shows the token’s resilience. At the time of writing, AVAX is trading at $44.52, holding above the key support level and showing potential for a further upward move.

From here, AVAX could look to approach its recent high of $55.79, which is still a 25% gain from the current price level.
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