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Avalanche

The post <a href="https://coinpedia.org/price-analysis/avax-price-downfall-hits-brakes-with-buyers-making-a-comeback/">AVAX Price Downfall Hits Brakes With Buyers Making A Comeback!</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
With Bitcoin taking a recoil action to come closer to the $40K mark following the fall earlier this week, the altcoins bounce back. With <a href="https://markets.coinpedia.org/avalanche/" target="_blank" rel="noreferrer noopener">Avalanche’s price</a> under a pullback phase, the buyers are preparing a bullish break to reignite the uptrend. Hence, with this sudden turning tide in the market sentiments, the AVAX price is ready to shoot up to $40.&nbsp; 
As the price action teases a conclusion to the pullback phase, the breakout anticipations are on the rise. Further, our bullish <a href="https://coinpedia.org/price-prediction/avalanche-avax-price-prediction/">AVAX price prediction</a> support the long-term bull run prospective in Avalanche. 
<figure class="wp-block-image size-large">
 <img decoding="async" width="1024" height="483" src="https://image.coinpedia.org/wp-content/uploads/2024/01/25134820/image-138-1024x483.png" alt="" class="wp-image-264221" srcset="https://image.coinpedia.org/wp-content/uploads/2024/01/25134820/image-138-1024x483.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/01/25134820/image-138-300x142.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/01/25134820/image-138-768x362.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/01/25134820/image-138-1536x725.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/01/25134820/image-138-150x71.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/01/25134820/image-138.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
Source – <a href="https://www.tradingview.com/x/fyLD6W65/">Tradingview</a> 
With the bearish price action over the past few weeks forming a falling wedge pattern, the AVAX price is now ready for a blazing comeback in 2024. As th buyers prepare a strong fort at $28, Avalanche is ready for a turnaround-driven breakout run.&nbsp; 
Further, with the confluence of multiple support levels like the 50% Fibonacci level and the $30 psychological mark, the bulls are gaining speed. Such elements of driving strong optimism fuel the breakout anticipations in Avalanche HODLers.&nbsp; 
Currently, the AVAX price trades at $30.5 and shows a minor intraday pullback as buyers aim to challenge the overhead resistance trendline. Under such conditions, cautious sideline traders can find the waiting game as a positive move before finding any breakout signals.&nbsp; 
Technical indicators:&nbsp; 
RSI: The daily RSI line moves onto a sideways track as it finds itself too close to the oversold boundary line. With the sellers losing ground, the RSI line may soon cross above the halfway line.&nbsp; 
Also Read: <a href="https://coinpedia.org/price-analysis/sol-price-recovery-eyes-100-break/" target="_blank" rel="noreferrer noopener">SOL Price Recovery Eyes $100 Break, Should You Be Buying NOW?</a> 
<h2 class="wp-block-heading" id="h-will-avax-price-cross-50">Will AVAX Price Cross $50?</h2> 
As Avalanche is one of the top-performing coins in the recent market bounce back, the altcoin shows a high probability of sustaining the bull run. This increases the breakout possibility of the falling wedge pattern and may lead to a quick rise in AVAX price.&nbsp; 
Therefore, in case the market recovery continues, the AVAX price can reach the $50 mark with the pattern breakout. However, if the prices drop below $28, the Avalanche market price could retest the $24 breakout.

AVAX Price Downfall Hits Brakes With Buyers Making A Comeback!

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