CandleFocus Avalanche Set to Soar: Is a 12% AVAX Rally Imminent?
2024-11-04
Author: Content Editor
The crypto token Avalanche (AVAX) is garnering attention and sentiment is shifting towards optimism. Analysts predict a potential breakout and technical indicators and on-chain metrics suggest a possible 12% rally, pushing AVAX to $28.50. AVAX has shown resilience at the $24.50 support level, which is seen as an ideal entry point by traders. A bullish trendline since August 2024 reinforces this support. The Relative Strength Index indicates momentum is building, and the Long/Short ratio on Binance shows strong bullish sentiment among traders. AVAX must stay above $24.50 to maintain its positive outlook. The combination of technical signals and positive on-chain metrics suggests a robust bullish picture for AVAX.
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