$AVAX is preparing for a major breakout – Is it time to enter?
Analysis:
Avalanche is forming a "Cup and Handle" pattern on the daily timeframe, with critical resistance at $39.50.
Entry Level: $39.20 – $39.70
First Target: $44.00
Second Target: $48.00
Stop Loss: $36.80
Technical Signals:
RSI is trading above 60
MACD indicates a positive crossover
Gradual increase in volume
Overview:
If $39.50 is breached with a strong close, we may see a rapid upward wave towards $48. Current support is strong at $36, making it a good entry opportunity with calculated risk.
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