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Avalanche ($AVAX) at a Decision Point:
Watch This Key Level
Hello Market Sense community!
While $BTC is trading in a tight range, I'm keeping a close eye on Avalanche ($AVAX). The chart is forming a classic "ascending triangle" pattern, which often suggests a big move is coming.
Here's the setup:
Key Resistance: $AVAX
has been repeatedly rejected at the ~$38.50 level. This is the main "ceiling" it needs to break.
Rising Support: At the same time, it has been making "higher lows," with strong support forming around the ~$36.00 area.
The Thesis: This setup (a flat top and a rising bottom) means pressure is building.
If $AVAX can break above $38.50 with strong volume, the next major resistance level I'm watching is up near $44.00.
This is definitely one of the cleanest-looking charts on my watchlist right now.
Are you bullish or bearish on $AVAX for the rest of this week? Let me know your thoughts.