Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
AVAX has extremely strong bullish momentum and sparked debate about being overextended
Breach of the $30-zone was critical for long-term investors
Avalanche [AVAX] has been one of the best-performing large-cap altcoins in December. In fact, it gained by just over 62% this month before the recent plunge to $32. The move past the long-term resistance and psychological round number at $30 was a sign of intent from the crypto’s buyers.
A recent AMBCrypto report noted that a significant portion of AVAX holders were in profit. The market sentiment was also reported to be firmly bullish, a fact that remains true today.
Avalanche bulls late to the party got punished on Monday
Source: AVAX/USDT on TradingView
Technical analysis of the higher timeframe price charts of Avalanche highlighted that the token was extremely bullish. It has been in
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