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Avalanche has faced extensive sale pressure during the past two months, as its price has decreased by more than 42 % since mid -December. The market is still very volatile, driven by certainty, but modern recovery signs indicate a shift in feelings. After days of the positive procedure of prices, AVAX shows signs of strength, and analysts closely monitor for potential penetration.
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Higher analyst Karl Ronville shared key visions on X, and revealed that AVAX has formed another wedge falling on the daily time frame. This pattern, which is widely recognized as an upper reflection indicator, indicates that the huge upward step can be followed if Avax erupted. Runefelt highlights that the AVAX hacking goal is about $ 56, as it is in line with the main resistance levels.
Since the Crypto market is preparing for the potential upscale, Avalanche prices in the coming weeks will be decisive. If the chopper formation is operated as expected, AVAX may see a strong gathering, and attract the investor’s renewable confidence. However, merchants remain cautious, as failure to break the main levels may lead to continued monotheism or even the downside. All eyes are now on collapse as they approach a decisive moment.
Collapse
Avalanche has shown recovery marks in the past few days, more than 13 % of the main support level has increased. This step has caused optimism among investors, but the broader downward trend that has dominated the market since late December is still a source of concern. If AVAX fails to restore the main supply levels as support, the last gains may be short -term, and the declining direction may continue.
Senior analysts Karl Ronville shared a technical analysis on XAnd revealed that AVAX formed a sorry for another fall on the daily time frame. This style is widely considered a bullish reflection signal, indicating a great outlook on the horizon. According to Runefelt, as soon as the AVAX outbreak, the target is set at the top of the style at $ 56 – a great march of 64 % of the current levels.
However, there are still risks that merchants should take into account. While the outbreak of the falling wedge can indicate the beginning of a new upward stage, Avax must first overcome the key resistance levels to confirm the reflection of the direction. If the bulls fail to keep the current support levels and pay the price over these barriers, AVAX may face more negative pressure.
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The AVAX price faces major resistance
Avalanche (AVAX) is currently trading at $ 34.4 after the very volatile Friday, as the price rose to $ 36.1 before restoring the entire daily step. This rapid price fluctuation reflects uncertainty in the market, as it fights Avax to find the direction.
In order for the bulls to confirm the potential reflection, the price must regain the brand of $ 36 as soon as possible and create the support above. In addition, AVAX needs to adhere to the SIA moving average for 200 days (EMA) at $ 34.6, which is the decisive technical level that can determine the short -term trend. The ongoing step above these levels would enhance the upward feelings and may lead to a gathering towards higher resistance areas.
However, the failure to stick to EMA for 200 days can lead to an increase in the pressure pressure, which pushed Avax towards a decrease in demand levels of about $ 31.7. This would indicate a continuation of the declining direction that has controlled the market since mid -December.
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Since the market is still suffering from uncertainty and fluctuation, the coming days will be crucial for the Avax track. If the bulls regain control and restore the levels of keys, it may follow a strong upward step. Otherwise, more monotheism or negative movement remains a possibility.
Distinctive image from Dall-E, the tradingView graph
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