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The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/avax-price-analysis-will-breakout-rally-drive-avax-to-13/">AVAX Price Analysis: Will Breakout Rally Drive AVAX To $13?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a>
Following the sharp and long-term downtrend in AVAX coin price, the market recovery revives a bullish hope for altcoins. With this recovery phase, the AVAX coin price rises above the long-coming resistance trendline. Moreover, this trendline breakout gives a falling wedge pattern in the daily chart.&nbsp;
Currently trading at $10.003, the Avalanche coin price displays an intraday fall of 1.0%, which comes as a pullback. Prior to today’s pullback, the AVAX coin price displayed a post-test reversal to form a morning star pattern completed by a 7.21% bullish engulfing candle.&nbsp;
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="487" src="https://image.coinpedia.org/wp-content/uploads/2023/10/05114925/AVAXUSD_2023-10-05_11-24-02-1024x487.png" alt="" class="wp-image-234904" srcset="https://image.coinpedia.org/wp-content/uploads/2023/10/05114925/AVAXUSD_2023-10-05_11-24-02-1024x487.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/10/05114925/AVAXUSD_2023-10-05_11-24-02-300x143.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/10/05114925/AVAXUSD_2023-10-05_11-24-02-768x365.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/10/05114925/AVAXUSD_2023-10-05_11-24-02-1536x730.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/10/05114925/AVAXUSD_2023-10-05_11-24-02-150x71.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/10/05114925/AVAXUSD_2023-10-05_11-24-02.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
With this bullet reversal from the $8.63 mark, the possibility of an uptrend continues as the Avalanche market price exceeds the 50-day EMA. This increases the possibility of the market price reaching the 200-day EMA, potentially leading to a bullish reversal and a golden crossover.&nbsp;
Furthermore, the reversal rally in AVAX price projects a potential rounding bottom with a neckline at the $11 mark. If the buyers fail to exceed the $11 mark on the first attempt, it might form an inverted head and shoulder. Provided the 50-day EMA supports the Pullback from $11.&nbsp;
With such <a href="https://coinpedia.org/price-prediction/avalanche-avax-price-prediction/" rel="noopener noreferrer nofollow">AVAX price predictions</a>, the uptrend faces multiple overhead oppositions.
Technical indicators:&nbsp;
EMA: The market value is above the 50-day EMA, projecting a potential bullet reversal.&nbsp;
DMI indicator: The DMI indicator displays the DI lines giving a positive crossover, and the positive uptick in the ADX line displays significant but small rising trend momentum.&nbsp;
<h2 class="wp-block-heading" id="h-will-avax-price-rise-above-12">Will AVAX Price Rise Above $12?</h2>
Considering the increasing trend momentum over the past few days, the AVAX price can definitely reach the $11 mark. However, the Price action at the $11 line will be crucial for the upcoming price trend.&nbsp;
If the market price gives a bullish breakout, the uptrend can reach the 200-day EMA, close to $13. However, a pullback will result in enough delayed breakout or plunge to $9.&nbsp;

AVAX Price Analysis: Will Breakout Rally Drive AVAX To $13?

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