Avalanche Price Prediction: Triangle Breakout Shows AVAX Price Breaking $100 | how to coin

Avalanche Price Prediction: Triangle Breakout Shows AVAX Price Breaking $100 | how to coin

Avalanche Price Prediction: Triangle Breakout Shows AVAX Price Breaking $100


A bullish breakout from the symmetrical triangle indicates the finish of the consolidation period in the AVAX/USDT pair. The potential rally would first hit the $100 resistance, the breakout of which would provide another accumulation chance for the long-term traders. However, sustaining the current retest phase is necessary for the above bullish thesis.

Main attractions:

  • AVAX chart shows long term for retest of descending trendline
  • Post-retest rally could shove AVAX price above $100
  • Intraday trading volume on AVAX is $2.08 billion, showing a 5% increase


During the recent downtrend, AVAX traders possess strictly adhered to the descending trendline to sell on rallies. This drop has engulfed the altcoin to the $53 mark, showing a 63.5% loss from its entire-time high ($146.6).

However, an incoming ascending trendline limited excessive losses by supporting new lower prices. The price action that resonates between these two converging trendlines suggests the formation of a symmetrical triangle pattern.

final week's rebound in crypto markets recovered AVAX price from the support trendline ($66.5). Six consecutive green candles from the lower support area increased 34% and broke the upper resistance trendline.

This altcoin is currently in a retest phase for enough demand for a further recovery. However, the price rejection higher at this stage of the retest is related to the reliability of this bullish breakout.

If buyers sustain above the downtrend line, the resulting rally will challenge the psychological $100 barrier. A subsequent breakout will confirm the bulls' commitment to lead to a true recovery.

Technical Indicators

The recent rally has reclaimed the significant 50 and 200 DMAs. Furthermore, these DMAs are shut to a golden crossover which could provide an excellent confirmation of the triangle breakout.

The MACD shows how quick and slow has entered the bullish zone, showing that bullish sentiment is growing.

  • Resistance levels- $100 and $125
  • Support level- $78 and $66




Source link

Welcome to howtomeke.info. Please support us by rating the article 5 stars and sharing this article on your social networking platforms. Tks ^^!~

READ MORE :   Relatable Things Everyone Does In Nintendo Switch Sports | how to download app

0 ( 0 bình chọn )

how to make | how to | how to fix

how to download, how to make, how to fix, share tips,Homemade tools,homemade projects,DIY TOOLS,Woodworking Ideas,angle grinder hack,angle grinder attachments,power tools attachments,homemade angle grinder attachments,angle grinder sander,homemade belt sander,angle grinder belt sander

Comments (0)

Leave a Reply

Your email address will not be published.


Kết nối với chúng tôi

See more


New post

See more