Rally

Bitcoin

Avalanche

Reversal

With a bullish pattern breakout in the weekly timeframe, the turnaround story for Avalanche crosses another milestone. Rising with immense demand and charting into the top gainers list, the <a href="https://coingape.com/price/avalanche/" rel="noopener noreferrer nofollow">AVAX price</a> is starting another week on a bullish note. Will this increased momentum rally drive the altcoin to $100 or is a pullback looming?
Also Read: <a href="https://coingape.com/markets/top-3-altcoins-to-buy-likely-to-turn-10-into-1000-this-week/" rel="noopener noreferrer nofollow">Top 3 Altcoins To Buy Likely To Turn $10 Into $1000 This Week</a>
<h2 id="b-is-avalanche-price-heading-to-100-b">Is Avalanche Price Heading to $100?</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/1/12PR2g31.png" alt="BINANCE:AVAXUSDT Chart " width="1946" height="937">
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 Avalanche Price| Tradingview
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Maintaining high bullish momentum with a turnaround from the 100-day EMA, the AVAX price shows an impressive bull run. With a 123% rise in the last two months, the Avalanche market price has successfully surpassed the $50 psychological mark.&nbsp;
Further, the bullish revival leads to the $60 break as the <a href="https://coingape.com/price/avalanche/" rel="noopener noreferrer nofollow">Avalanche price</a> currently trades at $63.35. With an intraday growth of 3.76%, altcoin is forming the second consecutive bullish candle.&nbsp;
Moreover, with the surge in trading volume supporting the bullish rally, the altcoin will likely break multiple overhead barriers. Finally, the short-term perspective aims to hit the psychological mark of $100 in the coming weeks.&nbsp;
Also Read: <a href="https://coingape.com/markets/bitcoin-price-prediction-how-12b-btc-etf-inflow-signals-breakout-to-80k/" rel="noopener noreferrer nofollow">Bitcoin Price Prediction: How $12B BTC ETF Inflow Signals Breakout To $80K</a>
<h2 id="strong-bullish-reversal-breaks-cup-and-handle-pattern-strong">Bullish Reversal Breaks Cup and Handle Pattern</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/m/mz8MxGBf.png" alt="BINANCE:AVAXUSDT Chart " width="1814" height="836">
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 Avalanche Price| Tradingview
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In the weekly time frame chart, the AVAX price shows the formation of a well-known reversal pattern cup and handle. The chart setup developing for nearly two years indicates a notable impact on AVAX price and its market participants. A recent breakout from the pattern’s neckline resistance could push the altcoin to a theoretical target of $90. Upon reaching this target, AVAX may then test the more formidable $100 resistance level.&nbsp;
Also Read: <a href="https://coingape.com/avalanche-avax-price-rallies-12-binance-announcement-boosts-market-sentiment/" rel="noopener noreferrer nofollow">Avalanche (AVAX) Price Rallies 12% As Binance Announcement Boosts Market Sentiment</a>
<ul>
 <li style="font-weight: 400;" aria-level="1">Exponential Moving Average: A notable upswing in the daily <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/" rel="noopener noreferrer nofollow">EMAs</a>(20, 50, 100, and 200) reflects an aggressive bullish trend in this asset.</li>
 <li style="font-weight: 400;" aria-level="1">Directional Movement Index: The bullish alignment of the DI lines expanded with the recent comeback. Further, the DI line is rising, indicating a recent pump in trend momentum.&nbsp;</li>
</ul>
The post <a href="https://coingape.com/markets/heres-how-reversal-avalanche-price-for-45-breakout/" rel="noopener noreferrer nofollow">Here’s How Reversal Pattern Sets Avalanche Price For 45% Breakout Rally</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Here’s How Reversal Pattern Sets Avalanche Price For 45% Breakout Rally

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