Avalanche (AVAX) has made a significant move, breaking above a crucial resistance level and soaring over 20% in less than 24 hours. This surge has reignited bullish sentiment among analysts and investors, who are now closely monitoring AVAX’s potential to reach the key $50 mark in the coming days. The breakout signals a shift in market dynamics, with rising demand and growing optimism fueling the price action.
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Prominent analyst and crypto investor Kaleo shared a detailed technical analysis on X, suggesting that once AVAX surpasses the $50 level, it could trigger a massive rally. He highlighted the importance of this psychological and technical level as a gateway to exponential price growth, potentially attracting more momentum-driven buyers.
Avalanche’s recent performance reflects the broader strength of the crypto market, as key altcoins experience renewed interest amid a bullish cycle. With market conditions aligning favorably, AVAX could continue its upward trajectory if it holds above its current levels. However, traders are also cautious and aware of potential profit-taking or resistance near the $50 threshold.
Avalanche Prepares For A Rally
Avalanche is on the verge of a massive rally, closely following a pattern reminiscent of its last bullish cycle. The price has surged above key supply levels with impressive strength and is now less than 15% away from the critical $50 mark. This level has captured the attention of both traders and analysts, as a breakout above it could signal the start of an aggressive bullish phase.
Kaleo recently shared a technical analysis on X, emphasizing the importance of the $50 level. According to Kaleo, breaking this psychological and technical barrier could trigger a powerful rally, potentially doubling AVAX’s value in a short period.
He also highlighted the AVAXBTC chart, which shows a similar breakout pattern, confirming the bullish sentiment surrounding Avalanche. Kaleo predicts that AVAX could reach $100 quickly if the momentum continues.
Despite the optimism, the potential for a market-wide correction introduces a degree of caution. With Bitcoin showing signs of possible retracement to consolidate and gather momentum, AVAX may face temporary pullbacks.
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