AVAX price breakthrough imminent! $23 target within reach?

Can AVAX break through and rebound to $23? According to the latest data, Avalanche (AVAX) price may soon face a critical turning point.

AVAX Price Analysis:

AVAX is currently encountering resistance around $19.75, but charts and technical indicators suggest it may rebound. The buy signal from the TD sequence and the bullish engulfing candle hint that the market may reverse, with a potential push towards $21.00 after breaking through $20.30. If it breaks above $20.50, greater upside potential will be validated.

Support and Resistance:

AVAX has formed strong support between $19.00 and $19.50, which previously triggered a rebound to $23.10. If the price breaks above $20.50, AVAX could challenge $22.50 again. However, if it falls below the $19.00 support, the price could drop to $18.30.

Strong network inflow, bullish market sentiment:

The inflow into the Avalanche blockchain has surged to $41.75 million, second only to Ethereum, indicating strong investor interest, which may drive AVAX price further up. With the growth of DeFi applications and user inflow, AVAX's short-term outlook is positive.

Overall, AVAX price is about to face a critical breakthrough, which could determine its upward or downward trend in the coming days.