AVAX, after a 27.97% decline last month, shows signs of a potential market boom. Investor sentiment is turning bullish, supported by a golden cross formation and a bullish triangle pattern on the chart. This pattern suggests a potential rally to $35.52 (short-term) and $53.95 (long-term), representing a 103% increase from its current price. Technical indicators like RSI and MACD also point towards a positive price movement.
has had a rocky past month, with the asset declining 27.97%. However, there is potential for a major market boom as sentiment begins to change. In the past 24 hours, it gained a minor 2.05%.
At the moment, AVAX has taken the first bullish leg up, reacting off the support level of the pattern at $24.53. The price is expected to move up from here, breaching the descending resistance line.There are two major profit targets following the breach: the short-term target at $35.52 and the long-term target at $53.95, representing an approximate rally of 103% from its current price point.
The RSI is currently in the bearish phase, with a reading of 34.21, and is heading toward a support level at 32.07.
AVAX Cryptocurrency Market Boom Golden Cross Technical Analysis
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