From $46 to Glory or Gloom – Avalanche AVAX Journey
2024-12-16
Category: None

Avalanche is trading at a crucial juncture near $49.08, with price action consolidating in range zone where we will continue to see slow and choppy price action. 

1. A bounce from the support level at $46.09 and a subsequent push above $51.62 could signal bullish momentum for AVAX, paving the way for a rally toward the next resistance level at $59.39 (Dashed Green Projections). 

2. A breakout beyond this zone would confirm strong buyer interest, potentially targeting higher levels near $66.63 as the next key milestone (Green Projections).

3. A failure to maintain the $46.09 support could open the door to further declines, with the price likely retesting the next major support at $38.32 (Red Projections).