$AVAX is demonstrating a strong bullish momentum, with the price establishing a series of higher highs and higher lows, confirming its upward trend. The recent breakout above the resistance at $38 marks a significant shift, with the price now trading above the EMA ribbon, which remains bullish and serves as dynamic support.
A potential retracement to the $38 breakout level could provide an excellent entry point for traders. If the price forms a bullish reversal pattern, such as an engulfing candle, during this pullback, we could see the price target the next resistance level at $54. This would align with the continued upward trajectory and prior bullish patterns.
The TSI (True Strength Index) supports this bullish narrative, remaining above the zero line and its moving average, indicating sustained momentum. A prior bullish divergence on the TSI further strengthens the case for continued upward movement.
Finally, the Signal Builder Indicator has consistently provided bullish signals, aligning with the current price action and trend. The confluence of these technical factors suggests AVAXUSDT is well-positioned for further gains.
👨🏻💻💭 Do you think AVAX will reach $54 soon? Let’s discuss this potential bullish move below!
