New Era

Avalanche

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/avalanche-enters-a-new-uptrend-after-prolonged-corrections/" data-wpel-link="internal">Avalanche Enters a New Uptrend After Prolonged Corrections</a> 
<a href="https://en.coin-turk.com/avalanche-and-gmx-tokens-showcase-promising-price-trends/" data-wpel-link="internal">Avalanche</a> (AVAX) has started a new uptrend after prolonged corrections. Trading at $25.78, AVAX confirmed a structural change by breaking the critical resistance of $22.80. Investors and analysts expect a potential bull run for AVAX in the coming months. 
<h2 style="text-align: justify" id="a-new-era-begins-for-avalanche">A New Era Begins for Avalanche</h2> 
After recent declines in the crypto world, Avalanche (AVAX) shows signs of recovery. AVAX, which lost over 70% of its value since its peak in March, has finally managed to break out of the downtrend channel. The structural change caused AVAX to gain strong momentum on the daily chart, which analysts believe could signal a new uptrend. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-382530 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/08/AVAXUSDT_2024-08-23_10-43-11.png" alt="" width="1814" height="798"> 
&nbsp; 
Crypto analyst Dom closely follows AVAX’s price movements. For the past six months, AVAX was trading in a classic downtrend channel. However, recent signs indicate that this channel has been broken. According to Dom, the $25 level was a significant psychological resistance point. A sustained move above this level could trigger a new bull run for AVAX. 
<h2 style="text-align: justify" id="what-are-the-possible-scenarios-for-avax">What Are the Possible Scenarios for AVAX?</h2> 
AVAX is currently trading at $25.78 and consolidating above the 200 exponential moving average (EMA) level of $23 on the 4-hour (4H) chart. This level is considered a dynamic resistance point in the market. If AVAX can sustain a move above this level, the next target could be $28. However, if the price falls below this EMA level, the previous resistance level of $22.80 could be retested. 
The coming days will be critical for AVAX’s <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener" data-wpel-link="exclude">future</a> price movements. The crypto market is closely watching to see if AVAX can start a new rally. If the right momentum is captured, AVAX has significant potential for gains. However, it should not be forgotten that sufficient liquidity in the market is necessary for the uptrend to be sustained. 
Avalanche is once again drawing attention in the crypto world. The positions that <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> take during this period will determine AVAX’s future performance. It seems that the coming days will be quite active for AVAX. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/avalanche-enters-a-new-uptrend-after-prolonged-corrections/" data-wpel-link="internal">Avalanche Enters a New Uptrend After Prolonged Corrections</a></h5>
The post <a href="https://en.coin-turk.com/avalanche-enters-a-new-uptrend-after-prolonged-corrections/" data-wpel-link="internal">Avalanche Enters a New Uptrend After Prolonged Corrections</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Avalanche Enters a New Uptrend After Prolonged Corrections

Table of Contents

COINTURK NEWS

Other articles published on Aug 23, 2024

ZualaCapital Managing Partner Pakam Joel On the current state of the digital asset class

Here’s why Ethereum (ETH) May See Massive Price Rally Soon

Blackrock’s ‘ETHA’ Stays Neutral; ETH ETF Sees 6th Outflow Day!

FTX’s Legal Troubles Reach Salame’s Partner

Weekly Article Recap: 8/12-8/16

WIF’s Largest Holder Makes $2.7M Purchase, Bullish Reversal Imminent?

Join our free newsletter for daily crypto updates!