Avalanche (AVAX) has started to enter a new uptrend after a long correction. AVAX, which is trading at $25.78, has confirmed a structural change by breaking the critical resistance at $22.80. Investors and analysts are expecting a potential bull run for AVAX in the coming months.
A New Era Begins for the Avalanche
Following the recent declines in the cryptocurrency world, Avalanche (AVAX) is showing signs of recovery. Having lost over 70% of its value since its peak in March, AVAX has finally managed to break out of its downtrend. The structural change has caused AVAX to gain strong momentum on the daily chart, and according to analysts, this could be a sign of a new uptrend. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
Cryptocurrency analyst Dom has been closely following AVAX’s price movements. Over the last six months, AVAX has been trading within a classic downward channel. However, signs have recently emerged that this channel has been broken. According to Dom, the $25 level was of great importance as a psychological resistance point. It is stated that a permanent move above this level could trigger a new bull run for AVAX.
What Are the Possible Scenarios for AVAX?
AVAX is currently trading at $25.78 and is consolidating above the 200 exponential moving average (EMA) level of $23 on the 4-hour (4H) chart. This level is considered a dynamic resistance point in the market. If AVAX can sustain a move above this level, the next target could be $28. However, if the price breaks below this EMA, the previous resistance level of $22.80 could be retested.
The coming days will be critical for AVAX’s future price movements. Cryptocurrency The market is watching closely to see if AVAX can start a new rally. If the right momentum is established, there is potential for big gains for AVAX. However, it should be noted that sufficient liquidity must be maintained in the market in order to sustain the rally.
Avalanche is once again drawing attention in the cryptocurrency world. The positions investors will take during this process will determine AVAX’s future performance. It seems that the coming days will be quite eventful for AVAX.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
