Avalanche's price broke through the resistance line of the ascending channel on November 22, indicating that the bulls have overpowered the bears.
AVAX/USDT daily chart | Source: TradingView
If the price remains above the resistance line, the AVAX/USDT pair could soar to $42 and then to $50.
This positive outlook will be invalidated if the price reverses and breaks below the 20-day EMA line. Such a move would indicate that the breakout was just a bull trap. At that point, the pair could drop to the 50-day SMA ($28.71), extending the time spent within the channel.
