Analyst Predicts AVAX Breakout: Is $30 The Next Target?
2024年9月15日 - 2:00PM
NEWSBTC
Avalanche (AVAX) is trading around $25 after a 10% surge since last
Thursday, as the broader crypto market shows signs of recovery.
Bitcoin and most altcoins are trending up from their yearly lows,
with AVAX at a critical price level that could shape its price
action in the weeks ahead. Related Reading: Solana (SOL)
Faces Serious Risk After Failing To Close Above Key Level – Details
Analysts and investors are closely monitoring the situation,
predicting significant volatility for Avalanche. Many are calling
for a potential change in trend, with some projecting a sharp and
aggressive rally if AVAX can break its weekly bearish
structure. However, this volatility could also lead to
downside risks if key support levels are lost. The next few days
will be crucial in determining whether AVAX can capitalize on the
market momentum or face more turbulence. Avalanche Change Of Trend
Will Lead To Higher Prices The market is at a turning point, as
previously fearful investors are starting to feel encouraged by
recent price action. Avalanche (AVAX) has surged by 25% from its
local lows since September 6 and is now trading at a key level that
could determine its price direction for the coming months.
This crucial level has caught the attention of analysts and
investors alike, particularly one prominent analyst, Daan, who
shared his technical insights on X. In his analysis, Daan points
out a well-defined bearish channel that has held AVAX in a
downtrend for several months. However, AVAX is now attempting to
break out of this descending channel, a move that could signal the
end of its bearish phase. If AVAX successfully breaks the $25
resistance level, Daan predicts the price could quickly move toward
$28. This break would represent a significant shift in the short-
to mid-term trend, potentially flipping market sentiment and
setting the stage for more upside. Related Reading: Cardano (ADA)
Whales Securing Gains After 10% Upswing: What’s Next? A successful
breakout would likely ignite a fresh wave of buying pressure, with
analysts projecting an aggressive rally toward $30 or higher in the
coming weeks. The next few days will be crucial, and any failure to
break resistance could see AVAX fall back into the bearish channel,
retesting lower support levels. AVAX Price Action: Key Levels To
Watch AVAX is trading at $25.04 after a 4-hour uptrend, marked by
higher highs and higher lows. This positive movement followed a
break past the 4-hour 200 exponential moving average (EMA), which
AVAX successfully tested as support last Thursday, signaling
short-term strength. This move has encouraged bullish sentiment
among traders. The following key challenge for AVAX is to break
through the $28 resistance level. Doing so would confirm a more
significant uptrend and signal a change in structure on higher
timeframes, potentially setting the stage for even higher prices in
the coming weeks. Related Reading: Is Chainlink (LINK) $12 Breakout
Imminent? Data Reveals A Rising Open Interest However, if AVAX
fails to maintain its position above the 4-hour 200 EMA, currently
at $23.5, the price could experience volatility or a deeper
correction, with lower demand levels likely being tested. Featured
image from Dall-E, chart from TradingView
Bitcoin (COIN:BTCUSD)
過去 株価チャート
から 9 2024 まで 10 2024
Bitcoin (COIN:BTCUSD)
過去 株価チャート
から 10 2023 まで 10 2024