The weekly chart $AVAX shows a breakout from a long descending channel, signaling a bullish reversal. After consolidating in the channel for months, AVAX rose by 119.91% to a peak of $49.15, marking a 5-week bullish streak.

This movement is supported by a clear divergence from the lower trend line of the channel and an upward trajectory, surpassing the critical Fibonacci retracement level of 61.8% at $47. From a technical perspective, the Relative Strength Index (RSI) stands at 67.67, reflecting bullish momentum as it approaches overbought conditions.

This suggests that buyers are in control of the market, but a short-term pullback may be possible as the RSI approaches overbought territory. Meanwhile, the Moving Average Convergence Divergence index shows a bullish crossover, with the MACD line at 2.958 diverging from the signal line at 0.269, indicating further upward momentum. $XRP $LTC