$AVAX

Break above the resistance line of the ascending channel pattern on November 22, indicating that the bulls have outweighed the bears.

If the price sustains above the resistance line, the AVAX/USDT pair could rally to $42 and then to $50. 

This bullish view will be invalidated in the near term if the price turns down and breaks below the 20-day EMA. Such a move will signal that the breakout may have been a bull trap. The pair may then drop to the 50-day SMA ($28.71), extending the stay inside the channel for some more time.