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AVAX Price Prediction: Nears Key Support, Can It Surge to $71?
- AVAX is approaching critical support levels at around $18.83, indicating potential accumulation activity.
- Technical indicators suggest a break from a long-term downtrend, signaling early signs of bullish momentum.
- Price projections point to mid-term resistance levels between $30 and $40, with a potential rally target of around $71.
- Volume analysis indicates increased buyer interest at support levels, supporting the breakout and recovery potential.
- Current market stats for AVAX show a price of $18.83, a 24-hour volume of $252.73 million, and a total market cap of $7.94 billion.
- Charts show a recent breakout from a descending trendline drawn since mid-2023, with increased volume, indicating a shift from bearish to bullish sentiment.
- Short-term resistance is seen near $30, with a longer-term target projection towards $71, contingent on sustained momentum.
- Technical analysis portrays AVAX poised for a potential rally, with support seen around $21 and a target at $71, based on historical recovery patterns.
- Intermediate hurdles may arise at resistance levels between $30 and $40, but strong market participation could drive AVAX through these barriers.
- Despite market volatility, AVAX's technical setup hints at a recovery narrative, with price projections ranging from $21.43 to $53.34.
- While the crypto market remains uncertain, AVAX is being closely monitored for mid-term breakout strength.
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