👉According to analyst Captain Faibik, Avalanche (AVAX) is showing bullish potential after breaking out of a descending wedge pattern on the 3-day timeframe.

👉The breakout has created a new support zone between $25 and $26, which was previously the resistance level of the candlestick pattern. AVAX is now aiming for a strong rally, with a projected price of $71.5, which represents a potential upside of about 183.07% from the current price of about $28.17.

👉However, AVAX faces resistance at key levels. The first challenge is around $31.5, where there has been some consolidation in the price. Additionally, the price could face strong resistance between $45 and $50, which has been a key area in previous price movements. If AVAX maintains its bullish momentum, it could target $71.5.