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Avalanche (AVAX) Could Rise 50% If It Breaks $28 Resistance – Crypto Analyst

Author: Content Editor
The cryptocurrency Avalanche (AVAX) has seen a 25% price surge since the announcement of a 50 basis point interest rate cut by the Federal Reserve. Currently trading near $28, AVAX is testing a key resistance level that could determine its future price action. If AVAX breaks through this resistance, it could lead to a significant rise in price and potentially even a 50% surge. However, if it fails to break through, a pullback is possible. Analysts believe this is a crucial moment for AVAX's market direction, with increasing trading volume and investor interest. As broader crypto sentiment has turned bullish, the next few days will be important in determining AVAX's sustainable momentum. Avalanche has been one of the top-performing altcoins recently, and respected figure Carl Runefelt has shared a bullish technical analysis of AVAX, stating that it has broken out of a falling wedge pattern. His price targets for AVAX are $28, $33, $41.30, and $54. If AVAX maintains its momentum, it could lead to significant gains in the medium term. However, AVAX needs to break through the resistance at $28 and reclaim the 1D 200 EMA to signal a sustained uptrend. Failure to do so could bring short-term bearish pressure. Nevertheless, there is a possibility of AVAX consolidating between $25 and $28 before a larger surge.

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