840 aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvY2QyMDFkZDEtYTVhOC00NTBjLTk0NDctNDIyOTIyYWE0OGM5LmpwZw T96ISm

Avalanche rebounds 25% in five days as AVAX price tests key level — big rally ahead?

Crypto market correlation and Valkyrie’s Avalanche fund launch also helped push AVAX to a weekly high.
Avalanche (AVAX) has rebounded strongly five days after testing a key inflection area as its support. Now, the AVAX/USD pair faces the possibility of continuing its upside retracement move further into Q2.A 30%-plus move ahead?AVAX’s price surged to almost $69.50 on May 5 from nearly $55 on April 30, a 25% jump. Interestingly, AVAX’s rebound move surfaced inside the same support area ($54-60 range) that had preceded a 100% and a 175% price rally in the January 2022-April 2022 and the October 2021-November 2021 session, respectively.AVAX/USD weekly price chart. Source: TradingViewAdditionally, the lower trendline of the AVAX’s prevailing descending channel pattern (possibly a “bull flag”) served as support. That raised the Avalanche token’s potential to extend its rebound move towards the channel’s upper trendline near $90,

Czytaj więcej

We współpracy z: https://cointelegraph.com/news/avalanche-rebounds-25-in-five-days-as-avax-price-tests-key-level-big-rally-ahead

Total
0
Shares
Dodaj komentarz

Podobne Wpisy