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Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow

Avalanche (AVAX) Ready To Target $28: Investors Expect A Reversal

Sebastian Villafuerte
Sebastian Villafuerte
1 year ago
3 mins read
Avalanche (AVAX) Ready To Target $28: Investors Expect A Reversal

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Avalanche (AVAX) is gaining bullish momentum after days of uncertainty and fear in the market. Following a sharp decline, AVAX has surged more than 18% since hitting a low of $20.5 on September 6 and is now showing signs of strength as it flirts with higher prices. 

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This recovery has sparked optimism among top investors and analysts, many of whom are positioning themselves for the next potential rally. Analysts share their views on social media, suggesting that AVAX could soon target even higher levels, with an optimistic target above $28. 

This shift in sentiment marks a significant change from the previous bearish outlook as AVAX continues attracting attention from retail and institutional players. As the market evolves, all eyes are on Avalanche to see if it can maintain this bullish momentum and reach new price levels.

Avalanche Showing Strength In Higher Time Frames

Avalanche (AVAX) has been one of the most affected altcoins over the past few months, enduring a 73% decline from its March highs. Despite this significant drop, top analysts and investors are now predicting a reversal, with many expecting a swift recovery for this Layer-1 blockchain. 

One of the leading voices is Daan, a prominent crypto trader and investor, who recently shared his analysis of AVAX’s price structure on X. He highlighted that AVAX has established a higher low, which could signal the beginning of a bullish trend if it breaks past the key $28 resistance level.

AVAX holding above $20 suggesting a reversal. | Source: Daan on X AVAXUSDT chart on TradingView
AVAX holding above $20 suggests a reversal. | Source: Daan on X AVAXUSDT chart on TradingView

According to Daan’s analysis, this break would indicate a shift in market structure from bearish to bullish. If the price moves beyond $28, it could quickly target the low-$30 price range.

Should AVAX reclaim these levels, investors could anticipate an aggressive upward move as demand builds, similar to the momentum seen in last year’s October-November surge. Daan also noted that such a move could lead to an influx of buyers, creating substantial demand that would further drive the price higher.

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With growing optimism around AVAX, traders are watching closely for a potential breakout. Many see the $28 level as the critical point determining whether AVAX can sustain this upward momentum and potentially initiate a new rally.

AVAX Price Action 

AVAX trades at $23.82, following an 18% surge from local lows. The price has recently moved above the 4-hour 200 exponential moving average (EMA) at $23.23, a critical strength indicator in shorter time frames.

A sustained uptrend could form in the short term when the price is above this level and maintained as support. This shift has sparked renewed optimism among traders and investors.

AVAX trading above the 4H 200 EMA. | Source: AVAXUSD chart on TradingView
AVAX is trading above the 4H 200 EMA. | Source: AVAXUSD chart on TradingView

For bulls to maintain control and continue pushing AVAX higher, the price must break past the local high of $28.01. A successful move above this resistance could lead to further upward momentum, potentially targeting higher price ranges in the days ahead.

However, if AVAX fails to break above this key resistance level, the price may face a pullback, likely retesting the lower demand zone near $20, which has served as strong support during recent corrections.

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This price action is being closely watched, as it could determine whether AVAX continues its recovery or faces another downturn. Investors are waiting to see if AVAX can break through resistance and start a stronger rally.

Featured image from Dall-E, chart from TradingView

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Sebastian Villafuerte
Sebastian Villafuerte

Sebastian Villafuerte

Sebastian's journey into the world of crypto began four years ago, driven by a fascination with the potential of blockchain technology to revolutionize financial systems. His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies.

Read more

To share his insights with others, Sebastian became an active contributor to online discussions on platforms like X and LinkedIn. His focus on fintech and crypto-related topics quickly established him as a trusted voice in the online crypto community. Sebastian's goal was to educate and inform his audience about the latest trends and insights in the rapidly evolving crypto landscape.

To further enhance his expertise, Sebastian pursued a UC Berkeley Fintech: Frameworks, Applications, and Strategies certification. This rigorous program equipped him with valuable skills and knowledge regarding Financial Technology, bridging the gap between traditional finance and decentralized finance. The certification deepened his understanding of the broader financial landscape and its intersection with blockchain technology.

Sebastian's passion for finance and writing is evident in his work. He enjoys delving into financial research, analyzing market trends, and exploring the latest developments in the crypto space. In his spare time, Sebastian can often be found immersed in charts, studying 10-K reports, or engaging in thought-provoking discussions about the future of finance.

Sebastian's journey as a crypto pioneer has been marked by a relentless pursuit of knowledge and a dedication to sharing his insights. His ability to navigate the complex world of crypto, combined with his passion for financial research and communication, makes him a valuable contributor to the industry. As the crypto landscape continues to evolve, Sebastian remains at the forefront, providing valuable insights and helping to shape the future of this revolutionary technology.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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