Avalanche(AVAX) Price Breaks the Descending Trend, Will it Make it to $30 this Month?

The Avalanche price rose more than 10% in the past few days after a month of consolidation. The price is primed for a small pullback after a strong bounce, but the bullish momentum could hold. Therefore, the asset appears poised to sustain a significant bounce within an ascending channel and reach the target initially set at $20 and later $30.

AVAX price recently snapped out of the $22-$23 price zone and should test the $12-$14 lows. However, after dipping just below $15, the price recovered quickly and is currently on the way to reach above $20 levels. As the price becomes parabolic, the price is expected to make a grand move above $30 soon.

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Avax price
  • AVAX price breaks out of the ascending parallel channel and after retesting back towards the upper resistance of the channel, the asset resumed an uptrend
  • The price is expected to stage a parabolic recovery to test $21 and later could continue higher as a result of a double bottom pattern
  • Despite a bullish pattern, the asset could face some setbacks on its way to the $30 target
  • After consolidating along with lower support for almost 45 days, the RSI managed to move higher, but despite the rejection, prices managed to bounce back firmly
  • On the contrary, the MACD is showing an accumulation of buying volume and hence a steep drop could be imminent
  • However, with the recent reversal, buying volume has strengthened and therefore a short-term bounce could be approaching that could lead to another rejection

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