Will AVAX Price Soar To $50 In The Coming Months?

Avalanche (AVAX) price showed renewed signs of strength, as emerging technical patterns highlight a possible major rally. AVAX price demonstrated renewed stamina as analysts from the crypto sphere identified two bullish patterns indicating a likely major rise.

Those patterns could be the key drivers of the asset’s direction over the coming weeks and months.

Bull Flag Formation Suggested Upside for AVAX Price

Crypto analyst AMCrypto identified a classic bull flag pattern on the AVAX chart. This formation often follows a sharp upward movement and represents a continuation pattern.

That formation suggested that the momentum could resume after consolidation. Avalanche crypto has been trading within a downward-sloping channel, creating a typical flag shape.

According to AMCrypto, a breakout above the $22.8 resistance level would likely trigger a rally toward the $28 to $30 range. AVAX price was testing the upper boundary of this flag at press time. The increasing buyer interest was noticeable in recent sessions.

Moreover, broader strength across utility tokens further supported a potential upside breakout for Avalanche crypto. In this case, maintaining a high trading volume during the breakout point will also be crucial. Further consolidation may occur if the price fails to break $22.8 and maintains above this support level.

Double Bottom Formation Support Bullish Outlook

In addition to a short-term bull flag setup, FLASH highlighted that a double bottom pattern was forming. This known technical structure also indicates the end of a long-term downtrend and the beginning of a new bullish phase.

Avalanche crypto has two separate lows in the $13 to $15 range, with the last breakout over the neckline resistance affirming the pattern.

FLASH Trading’s projections suggested two significant upside targets for AVAX. The first target lied at $37.26, while the second major level was identified near $52.49. These targets reflect the strong reversal potential suggested by the double bottom formation.

Furthermore, the given pattern showed a change in the sentiment regarding AVAX price. It showed that buyers were assuming selling pressure, which could support the extended upward movement of the Avalanche ecosystem.

Additionally, the historical double bottoms were a signal for significant upward movement that confirmed the bullish outlook.

Technical Indicators Confirm Avalanche Crypto Bullish Trend

Real-time fundamental analysis indicators showed a bullish outlook for AVAX price at press time. The MACD and the RSI on the daily chart had bullish outlooks, and the RSI was hovering around the sideways 50 level. That indicated improving buying momentum without overbought conditions.

The 20-day Exponential Moving Average (EMA) was beginning to curve upward and was nearing a bullish crossover with the 50-day EMA. This technical event is often regarded as a strong buy signal by traders. Additionally, the MACD histogram went up, highlighting the bullish momentum for AVAX.

The Avalanche crypto market demonstrated rising demand, with trading volume showing consistent growth. Essentially, indicators suggested that AVAX price would maintain bullish trends if the $22.8 price level saw a strong and convincing breakthrough.

Breakout Scenarios Could Redefine the Next Phase

The combination of bull flag and double bottom patterns is a technical setup that has the potential to trigger AVAX price movements. A breakout above the $22.8 would extend the bull flag short-term pattern and probably reach $28-$30.

Consequently, a breakout past the $28 level would then put the price towards $37.26 and even $52.49. In addition to the patterns, continued positive changes in indicators, including RSI, MACD, and moving average, further support the bull case for Avalanche crypto.

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