Posted 1/24/2024, 2:00:00 PM
AVAX Price Rebounds Above $30 After 40% Drop, But Faces Key Test at $27 Support
- Avalanche (AVAX) price has fallen 40% from its 2023 high of $50 on December 24, but bounced back above $30 yesterday
- Price is trading in a corrective pattern inside a descending channel on the daily chart
- Wave count suggests AVAX is completing a C wave bottom of an A-B-C correction
- Analysts and traders remain predominantly bullish on future AVAX price
- Next key levels to watch are $27.22 support and $42 resistance