Avalanche (AVAX) Eyes Key Breakout Level as Bulls Await $43 Target
- AVAX nears key resistance at $27, a breakout could spark rally toward $43
- Technicals show mild bullish bias, but momentum lacks strong confirmation
- Rising open interest signals increased trader focus and potential price volatility
Avalanche (AVAX) is currently navigating a critical technical zone, drawing close attention from both traders and analysts. The asset as of press time is trading at $23.51, showing mild intraday weakness after a minor dip of 0.08% over the past 24 hours.
Despite the pullback, AVAX has climbed 4.13% in the past week, highlighting a cautious yet present bullish undercurrent. What’s particularly important now is its position within a well-defined descending channel.
Testing the Mid-Boundary: Bulls vs. Resistance
According to analysis by Ali Martinez, the $27 level remains a major technical obstacle for AVAX. Historically, this region has rejected price attempts with strong resistance. Currently, the price lingers just below that point, testing market patience and momentum. A confirmed 4-hour candle close above this level would likely confirm strength and pave the way toward the upper channel resistance near $43.
The post Avalanche (AVAX) Eyes Key Breakout Level as Bulls Await $43 Target appeared first on Coin Edition.
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Avalanche (AVAX) Eyes Key Breakout Level as Bulls Await $43 Target
- AVAX nears key resistance at $27, a breakout could spark rally toward $43
- Technicals show mild bullish bias, but momentum lacks strong confirmation
- Rising open interest signals increased trader focus and potential price volatility
Avalanche (AVAX) is currently navigating a critical technical zone, drawing close attention from both traders and analysts. The asset as of press time is trading at $23.51, showing mild intraday weakness after a minor dip of 0.08% over the past 24 hours.
Despite the pullback, AVAX has climbed 4.13% in the past week, highlighting a cautious yet present bullish undercurrent. What’s particularly important now is its position within a well-defined descending channel.
Testing the Mid-Boundary: Bulls vs. Resistance
According to analysis by Ali Martinez, the $27 level remains a major technical obstacle for AVAX. Historically, this region has rejected price attempts with strong resistance. Currently, the price lingers just below that point, testing market patience and momentum. A confirmed 4-hour candle close above this level would likely confirm strength and pave the way toward the upper channel resistance near $43.
The post Avalanche (AVAX) Eyes Key Breakout Level as Bulls Await $43 Target appeared first on Coin Edition.
Read More