Avalanche Soars to New Highs Near $50 as Bullish Momentum Builds
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Avalanche (AVAX) price hit a new yearly high of $42.90 this week after breaking out from long-term descending resistance.
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AVAX is approaching the $50 and $55 price levels, which analysts view as next targets. The highest prediction is $59.
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Wave analysis suggests AVAX may be nearing a top in a five-wave bullish pattern, but there are no bearish technical divergences yet.
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If AVAX breaks $44, it could rise 50% to $59 which would match wave one and three lengths.
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If rejected at $44 resistance, AVAX could see a 45% drop back to $22 horizontal support.