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The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/avax-price-analysis-up-against-incoming-supply-avax-eyes-15/">AVAX Price Analysis: Up Against Incoming Supply, AVAX Eyes $15!</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a>
With a solid bullish reversal rally in Avalanche, the sellers fail to hold dominance over crucial levels, leading to breakout rallies. The AVAX coin prices take off from the $8.60 launchpad to give a phenomenal return of 40% to reach the $12 mark.&nbsp;
As the ongoing recovery rally brings Avalanche Year-to-Date back into the positive realm with 12.60%, the <a href="https://coinpedia.org/price-prediction/avalanche-avax-price-prediction/" rel="noopener noreferrer nofollow">AVAX price prediction</a> hints at crossing the $15 mark soon.&nbsp;
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="481" src="https://image.coinpedia.org/wp-content/uploads/2023/11/02133332/AVAXUSD_2023-11-02_12-28-37-1-1024x481.png" alt="" class="wp-image-241496" srcset="https://image.coinpedia.org/wp-content/uploads/2023/11/02133332/AVAXUSD_2023-11-02_12-28-37-1-1024x481.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/11/02133332/AVAXUSD_2023-11-02_12-28-37-1-300x141.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/11/02133332/AVAXUSD_2023-11-02_12-28-37-1-768x361.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/11/02133332/AVAXUSD_2023-11-02_12-28-37-1-1536x722.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/11/02133332/AVAXUSD_2023-11-02_12-28-37-1-150x70.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/11/02133332/AVAXUSD_2023-11-02_12-28-37-1.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
Forming a double bottom pattern in the daily chart, the AVAX price action displays a successful reversal with a bullish breakout. Crossing over the $10.86 neckline, the reversal rally helps Avalanche reclaim the psychological mark of $10.
The rising Avalanche market value is trading at $12.07, close to the dynamic resistance of the 200-day EMA and the $12.34 resistance level. Moreover, the intraday fall of 1.47% showcases higher price rejection, reflecting a strong incoming supply pressure.
Nevertheless, the AVAX price is up by 40% in the last three weeks and gives a double bottom breakout. Therefore, a potential retest of $10.86 is possible before continuing a bullish trend above the 200-day EMA.&nbsp;
Technical indicators:&nbsp;
EMA: The rising trend in the AVAX price has a positive influence on the 50-day EMA and teases a golden crossover. Moreover, a potential 200–day EMA breakout will signal a buying spot for sideline traders.&nbsp;
MACD indicator: The MACD and signal lines display linear growth with optimum bullish spread.
<h2 class="wp-block-heading" id="h-will-avax-price-rise-to-15">Will AVAX Price Rise To $15?</h2>
With Bitcoin crossing above the $35K mark, the altcoins are gaining momentum and teasing an upcoming altcoin season. Further, the bullish breakout in AVAX with a double bottom reversal signals a potential upcycle to the $15 mark. However, the buyers must reclaim the 200-day EMA to prolong the bull run.
On the flip side, a reversal from the 200-day EMA can lead to a price drop to $10.86.

AVAX Price Analysis: Up Against Incoming Supply, AVAX Eyes $15!

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