Avalanche (AVAX) Eyes 30% Rally Amid Cup-And-Handle Pattern Breakout

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Avalanche (AVAX) Eyes 30% Rally Amid Cup-And-Handle Pattern Breakout - NewsBTC

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Related Reading: Ethereum Prepares For $2,850 Rally, But Analysts Warn Of Potential Dip To These Levels Avalanche Targets $32 Resistance Avalanche has seen a nearly 40% surge over the past week, jumping from the $19 mark to a three-month high of $26.84 on Monday.

On the contrary, if the cryptocurrency gets rejected from the first resistance, the price could revisit the breakout levels and the downtrend line around the $20 mark, with a selling wall below it that could serve as support.

Crypto Amsterdam explained that AVAX’s chart is "another super clean mini cycle example.” After hitting its all-time high (ATH) of $146 in November 2021, Avalanche set its range between the $20-$130 levels, falling below the range’s low in mid-2022.