Avalanche Rebounds: Eyes $29.35 Breakout And Further Gains

Name	Symbol	Market	Market Cap ($)	Algorithm
Avalanche	AVAXUSD	Crypto	7,670,485,727	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Avalanche

AVAXUSD

Crypto

7,670,485,727

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.140	-0.75%	18.60	18.59	18.61

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.140

-0.75%

18.60

18.59

18.61

High Price	Low Price	Open Price	Prev. Close	52 Week Range
19.11	18.54	18.78	18.74	15.33 - 59.31

High Price

Low Price

Open Price

Prev. Close

52 Week Range

19.11

18.54

18.78

18.74

15.33 - 59.31

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	10:13:47	0.065000	18.60	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

10:13:47

0.065000

18.60

USD

Price x Volume	Volume	Base Symbol	Related Pairs
1,710,715.23	90,635.27	AVAX	AVAXEUR	AVAXGBP	AVAXBTC

Price x Volume

Volume

Base Symbol

Related Pairs

1,710,715.23

90,635.27

Avalanche Rebounds: Eyes $29.35 Breakout And Further Gains

12/10/2024 6:00pm

NEWSBTC

Avalanche (AVAX) has regained traction, showing signs of a potential bullish resurgence as it approaches a key resistance level at $29.35. After a period of consolidation, AVAX’s price action hints at a possible breakout, which could trigger a strong upward movement. With technical indicators showing signs of strength, the market’s focus now shifts to whether Avalanche can sustain this upward momentum and push past the $29.35 barrier for a sustained move higher. This analysis aims to evaluate Avalanche’s recent price rebound and assess whether it has the momentum to break through the key $29.35 resistance level. By examining technical indicators, market sentiment, and price trends, we seek to determine if the token is poised for further gains, setting the stage for a sustained rally in the coming sessions. AVAX’s Strong Bounce: Will Momentum Continue? Following the bullish comeback at $25, AVAX’s price on the 4-hour chart has continued to gain strength to surge toward the $29.35 resistance level. AVAX is also trading above the 100-day Simple Moving Average (SMA), suggesting a positive upward trend that could lead to a potential breakout. An analysis of the 4-hour Relative Strength Index (RSI) reveals that the signal line has risen above the 50% mark and is currently sitting at 74%, indicating strong bullish momentum. As long as the RSI remains elevated and buyers maintain control, the asset could experience additional gains with the possibility of reaching new highs. Related Reading: Can Avalanche (AVAX) Reclaim $30? Top Analyst Predicts A Dip Before A Bounce Additionally, the daily chart illustrates that AVAX is showcasing a significant upward push, characterized by a positive candlestick pattern following its rebound above the 100-day SMA. The asset is currently attempting to breach the critical resistance level at $29.35. Successfully overcoming this barrier would reinforce the prevailing upward trend and boost market sentiment, signaling heightened buying interest. Finally, on the 1-day chart, a detailed examination of the RSI formation indicates that Avalanche may maintain its optimistic trajectory. The indicator’s signal line after dropping to 44% is rising again and is currently positioned at 59%, indicating that buying pressure could remain strong and potentially drive further price appreciation in the near term. What’s Next For Avalanche If $29.35 Is Breached? If Avalanche successfully breaches the critical resistance level of $29.35, it could set the stage for a significant rally toward the $42 resistance mark. A breakout above this level could lead to a series of upward targets, pushing the price toward new highs as market confidence grows. Related Reading: Avalanche (AVAX) Ready To Target $28: Investors Expect A Reversal However, if Avalanche fails to maintain this strength and breaks above the $29.35 resistance level, it could result in a pullback, with the price sliding back toward the $18.85 support zone. A breakdown below this level could lead to more losses, possibly targeting lower support areas. Featured image from Shutterstock, chart from Tradingview.com

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AVAXUSD Avalanche