STX breaks out of the descending channel, signaling potential reversal in market sentiment.
FET confirms breakout from a broadening wedge, suggesting a shift to bullish momentum.
AVAX chart is showing a strong bullish reversal as it breaks out of a falling wedge pattern.
STX (Stacks), Avalanche (AVAX) and Artificial Superintelligence Alliance (FET) have recently shown interesting swings. FET confirmed an upward breakthrough from a descending expanding wedge, while STX surged by 4.6% on the day and left a decreasing channel behind it. On its hand, AVAX has broken out of its long-term falling wedge pattern, historically a bullish indicator. These events point to a change in market mood as optimistic trends show themselves.
STX Breaks Out of Descending Channel
Per Captain Faibik’s observation, STX/USDT has been trading within a declining channel marked by a sequence of lower highs and lows. Two parallel trendlines define this pattern and function as both resistance and support. STX shows a breakout over the upper resistance trendline of the descending channel.
$STX #STX Train has left the Station..
https://t.co/ifIFFxbAvj pic.twitter.com/1ZWst8KEzu
— Captain Faibik 
(@CryptoFaibik) September 20, 2024
Hovering around $1.77 at press time, STX retests the old resistance line, now acting as a possible support. STX has set a clear goal with a possible increase of over 146.88% from present levels to $4.20.
FET’s Breakout Confirms Reversal
In Faibik’s separate analysis, FET/USDT has also seen a verified breakthrough from a declining expanding wedge pattern. For Artificial Superintelligence Alliance, this pattern—which stands out for two different trendlines—indicates a possible bullish turnaround. Consistently stopping the price from declining further during the formation, the lower trendline functions as a support level. The upper trendline served as opposition, which was challenged constantly prior to breach.
$FET Descending Broadening Wedge Upside Breakout is finally Confirmed..
Midterm Target : 3.90$#Crypto #FET #FETUSDT pic.twitter.com/QF4xkcVSWk
— Captain Faibik (@CryptoFaibik) September 20, 2024
The breakout above the wedge’s resistance line confirms a shift from bearish to bullish sentiment. This confirmed breakout suggests that further upward movement is likely, with a midterm target set at $3.90.
What’s up For AVAX?
In yet another analysis, Faibik’s AVAX/USDT chart is showing a strong bullish reversal as it breaks out of a long-term falling wedge pattern, a technical formation that often signals a shift from bearish to bullish momentum. The breakout is accompanied by a surge in bullish volume, indicating significant buying interest and reinforcing the move’s credibility. With a projected upside of approximately 183%, the price target is set around $71, highlighting the potential for substantial gains if the current momentum is maintained.
The recent outbursts in AVAX, STX and FET suggest a more general change in market mood since both crypto show technical patterns supporting positive momentum. The occurrences could pave the way for continuous price hikes. Technical signals showing higher near-term gains support the observed trends and confirmed breakouts suggest more positive market action for traders and investors.
The post AVAX, STX and FET Exhibit Breakouts, Signal Bullish Trend appeared first on CryptoTale.
