- Avalanche surged 90% in November, breaking a key resistance trend line.
- Technical indicators and wave patterns suggest a bullish trend toward $134.
- Short-term targets include $74.70, with potential long-term gains reaching $205.
In November, AVAX soared 90% after breaking a key resistance trend line. The price reached $47, a significant level that signals a potential breakout. Analysts see minimal resistance ahead, with targets set at $134 or higher. Strong technical signals and bullish wave patterns point to continued momentum for AVAX.
Strong Technical Signals Fuel Optimism
Since September, Avalanche has grown steadily along an ascending support trend line. November saw a sharp bounce, creating four consecutive bullish weekly candles and reaching a high of $49.15. The current $47 level is the final hurdle before challenging the yearly high of $65.39.
Technical indicators confirm a robust trend. The Relative Strength Index broke free from a bearish pattern and now sits above 50, showing strong buying pressure. The Moving Average Convergence Divergence made a bullish cross above zero, reinforcing the positive outlook. Both indicators suggest further gains, with no signs of weakness or overbought conditions.
Bullish Wave Patterns Indicate Long-Term Potential
Wave analysis supports the optimistic forecast. Experts believe AVAX is either in wave C or wave three of a larger five-wave structure. Both scenarios suggest the price could climb significantly. The first target, $134, aligns with the wave A:C ratio. A five-wave expansion could push Avalanche to $205, as wave three typically extends 1.61 times wave one.
In the short term, AVAX seems to be completing wave three within a smaller five-wave pattern. This phase could peak at $74.70, setting a new yearly high before a possible pullback. The daily RSI remains overbought but shows no bearish signals, suggesting the rally still has room to grow.
Avalanche Gains 90% in November, Bullish Setup Suggests Potential Breakout to $134, signals a token on the rise. Strong technical indicators, steady momentum, and promising wave patterns point to continued growth.
