Recent Price Action: AVAX has successfully retested the $16 breakout level, indicating a strong bullish momentum.
EMA Crossover: The 50-day Exponential Moving Average (EMA) is close to crossing above the 200-day EMA, signaling a potential bullish breakout.
Target Price: If AVAX surpasses the $20 mark, the rally could potentially boost its price to $22.
Significant Growth: AVAX has shown impressive performance with a 100% growth in the last 16 days, marking it as a top performer among blue-chip altcoins.
Positive Market Sentiment: The golden crossover in the EMAs is likely to enhance market sentiment around AVAX.
Recent Price Surge: AVAX experienced a 46% increase to $19.79 between November 10th and 12th, followed by a correction and a subsequent 5.79% jump.
Current Trading Status: AVAX is trading at $17.97, with a 5.40% intraday growth, reflecting strong market demand.
Technical Indicator - RSI: The Relative Strength Index (RSI) remains in the bullish overbought territory, supporting the ongoing uptrend.
Potential for Further Growth: With the bullish market conditions, AVAX is poised to cross the $20 threshold, with a possibility of reaching $25.
Downside Risk: A reversal before hitting $20 could lead to a price drop back to the $16 level.
EMA Crossover: The 50-day Exponential Moving Average (EMA) is close to crossing above the 200-day EMA, signaling a potential bullish breakout.
Target Price: If AVAX surpasses the $20 mark, the rally could potentially boost its price to $22.
Significant Growth: AVAX has shown impressive performance with a 100% growth in the last 16 days, marking it as a top performer among blue-chip altcoins.
Positive Market Sentiment: The golden crossover in the EMAs is likely to enhance market sentiment around AVAX.
Recent Price Surge: AVAX experienced a 46% increase to $19.79 between November 10th and 12th, followed by a correction and a subsequent 5.79% jump.
Current Trading Status: AVAX is trading at $17.97, with a 5.40% intraday growth, reflecting strong market demand.
Technical Indicator - RSI: The Relative Strength Index (RSI) remains in the bullish overbought territory, supporting the ongoing uptrend.
Potential for Further Growth: With the bullish market conditions, AVAX is poised to cross the $20 threshold, with a possibility of reaching $25.
Downside Risk: A reversal before hitting $20 could lead to a price drop back to the $16 level.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.