$AVAX

AVAX price analysis: Breaking through resistance, can it set a new high?

Brothers, on November 22, AVAX broke through the resistance line of the rising channel, and the bulls fought against the bears, turning the situation around in one fell swoop! This wave of breakthrough directly ignited market sentiment, and the subsequent trend is critical.

Where is the bull target?

If the price can stabilize above the resistance line, the AVAX/USDT pair is expected to hit $42 in the short term, or even challenge the $50 mark! This trend can be said to be quite fierce, and the bulls are in high spirits.

What is the risk of a callback?

However, stay calm and don't get excited. If the price falls back below the 20-day moving average, this optimistic expectation will be discounted. This may be a bull trap, and the price may even retreat to the vicinity of the 50-day moving average ($29.93) and continue to fluctuate in the channel.

In summary: Hold the resistance line and aim directly at $50; if it falls below the moving average, be careful of the callback trap. Brothers who want to get on the train, keep an eye on the support and resistance, timing is very important!