840 aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvY2JhOTFiNzAtOTlkMy00ZDllLWJlMTMtYTc4NGNlZGEwYzUyLmpwZWc caOE0b

Avalanche price can double by summer as AVAX’s 20% weekly rally rekindles ‘bull flag’

But a near-perfect correlation between Avalanche and Bitcoin so far this year could spoil the bullish outlook.
A sharp upside retracement in the Avalanche (AVAX) market this week has raised its possibilities to rise by another 100% in Q2.Avalanche chart painting a ‘bull flag’The bullish outlook primarily appears in the wake of AVAX’s multi-month bull flag setup, which formed after a strong price move higher to over $150, an all-time high in the Avalanche market. In detail, the setup is a downward sloping channel, denoted by two parallel trendlines against the previous trend, with volumes declining to underscore a weakening downtrend.AVAX/USD weekly price chart featuring ‘bull flag’ pattern. Source: TradingViewIn a perfect scenario, bull flags resolve with a breakout move above their upper trendlines, followed by an extended uptrend, with the profit target at length equal to the size of the underlying asset’s previous uptre

Czytaj więcej

We współpracy z: https://cointelegraph.com/news/avalanche-price-can-double-by-summer-as-avax-s-20-weekly-rally-rekindles-bull-flag

Dodaj komentarz

Podobne Wpisy