Rally

bullish

World

Arcade

Avalanche

<p>World of Charts reported on the price trajectory of Avalanche (AVAX), highlighting its breakout from a descending channel pattern.<a href="https://x.com/WorldOfCharts1/status/1839554895571030414?t=LC78gH09xr0XOnITokX_cw&amp;s=19" target="_blank" rel="noopener noreferrer nofollow"> The analyst presented</a> a chart featuring a descending wedge formation, recognized as a bullish technical pattern that often indicates a reversal of a downtrend.</p>
<p>AVAX had been trading within this wedge for several months before successfully breaking out. This breakout above the upper trendline signifies a shift towards a bullish trend. The analyst noted that AVAX has commenced its recovery, which correlates with the upward movement depicted in the chart.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/former-sec-lawyer-reveals-why-the-commission-will-likely-appeal-ripples-xrp-case/" target="_blank" rel="noopener noreferrer nofollow">Former SEC Lawyer Reveals Why the Commission Will Likely Appeal Ripple’s XRP Case</a></em></strong></p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="581" src="https://captainaltcoin.com/wp-content/uploads/2024/09/image-686-1024x581.png" alt="" class="wp-image-561121" srcset="https://captainaltcoin.com/wp-content/uploads/2024/09/image-686-1024x581.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-686-300x170.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-686-767x435.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-686-1536x871.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-686-2048x1161.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-686-265x150.png 265w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-686-100x57.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-686-617x350.png 617w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-686-788x446.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-686.png 679w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>Since the breakout, AVAX has experienced a 20% increase in value. The chart illustrates this rise, with the highlighted blue box showing. This substantial gain serves as a strong confirmation of both the breakout and the bullish momentum.</p>
<p>Looking ahead, traders are likely to target previous resistance levels between $40 and $45. These levels are anticipated as potential test points for AVAX, should the bullish momentum persist.</p>
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<p>The post <a href="https://captainaltcoin.com/top-analyst-points-to-next-key-target-for-avalanche-avax-as-price-rally-persists/" rel="noopener noreferrer nofollow">Top Analyst Points to Next Key Target for Avalanche (AVAX) as Price Rally Persists</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Top Analyst Points to Next Key Target for Avalanche (AVAX) as Price Rally Persists

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