In the constantly fluctuating world of cryptocurrencies, the AVAX coin has caught the attention of many. Starting October robustly, AVAX boasted a 10% rise, only to face a sudden reversal.
Read CRYPTONEWSLAND onFollowing this momentum shift, the Avalanche coin found itself negating its initial gains and further declining by 4.89%. However, as the market navigates through the bearish undertones, there’s a glimmer of hope for AVAX.
Currently, it hovers tantalizingly close to its resistance trendline. With the bulls fighting for dominance, a potential breakout could herald significant price actions. While the RSI has shown weakened market power for the past week, a bullish swing is very much in the cards. If the bulls successfully penetrate the descending channel, reaching the resistance of $9.80 seems likely.
And with sustained momentum, $9.96 isn’t far off. Conversely, continued bear dominance could plummet prices below the $9.10 support, possibly testing the critical $8.70 mark. The coming days are pivotal for AVAX.
With the crypto industry’s dynamic nature, a rebound for the Avalanche coin isn’t just a possibility; it’s on the horizon. The crypto world watches with bated breath as AVAX holds great promise for the future.
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