Momentum

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/avax-price-dynamics-and-potential-breakout/" data-wpel-link="internal">AVAX Price Dynamics and Potential Breakout</a> 
<a href="https://en.coin-turk.com/can-stars-arena-save-avalanche-avax-as-token-inflation-drags-it-below-10/" data-wpel-link="internal">Avalanche</a>‘s <a href="https://en.coin-turk.com/avalanche-drops-the-bomb-popular-altcoin-focuses-on-long-term-goals/" data-wpel-link="internal">AVAX</a> price correction, which has postponed its dreams of reaching $100, has shifted the focus to preventing a drop below $30. As the downward trend leads to a 50% drop, the <a href="https://coin-turk.com/altcoinin-bogalari-gozunu-bitcoinin-23-800-dolar-seviyesine-cevirdi-yukselis-atesi-o-anda-yanacak" data-wpel-link="internal">altcoin</a> appears to be forming a falling channel pattern on the daily chart. Buyers aim to prevent the price from falling below $30, while the underlying sentiment suggests a potential shift from a bearish to a bullish trend. In a market where expectations for an altcoin season are rising, AVAX’s chances of reaching $100 by year-end are gaining strength. 
<h2 style="text-align: justify" id="double-bottom-formation-and-potential-channel-breakout">Double Bottom Formation and Potential Channel Breakout</h2> 
Despite facing a significant pullback, AVAX finds support around $30, signaling a potential double bottom formation, a significant bullish signal. The <a href="https://coin-turk.com/risk-uyarisi-verilen-altcoin-bu-seviyeye-gelebilir" data-wpel-link="internal">Altcoin</a>‘s price is now showing signs of breaking the general trend line at $34.59, with a possible breakout from the falling channel. 
With AVAX’s price exiting the falling channel, an increase in upward momentum and a strong upward move in the popular altcoin can be expected. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-346144" src="https://coin-turk.com/wp-content/uploads/2024/04/AVAX.png" alt="" width="1600" height="796"> 
MACD and the signal line, being above the zero line, indicate a possible recovery showing bullish signs. Additionally, the intertwined lines display a bullish trend. The RSI line on the daily timeframe also shows a bullish breakout on the chart, increasing the likelihood of a bullish trend. 
<h2 style="text-align: justify" id="strong-can-avax-s-price-exceed-50-strong">Can AVAX’s Price Exceed $50?</h2> 
With rising bullish expectations, AVAX may offer an attractive entry point for new investors. Momentum indicators support this bullish scenario and point to the potential for a breakout from the channel formation. 
In the event of a breakout, the emerging bullish trend on the AVAX chart could drive the price to $50 or the 50% trend-based Fibonacci level. In the worst-case scenario, the price could fall below $30, facing a significant drop. In such a scenario, a potential pullback to $20 could be expected. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/avax-price-dynamics-and-potential-breakout/" data-wpel-link="internal">AVAX Price Dynamics and Potential Breakout</a></h5>

AVAX Price Dynamics and Potential Breakout

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