{"id":647590,"date":"2024-10-12T17:00:11","date_gmt":"2024-10-12T17:00:11","guid":{"rendered":"https:\/\/uniquehot.com\/?p=647590"},"modified":"2024-10-12T09:41:27","modified_gmt":"2024-10-12T09:41:27","slug":"avalanche-eyes-29-35-breakout","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/analysis\/avax\/avalanche-eyes-29-35-breakout\/","title":{"rendered":"Avalanche Rebounds: Eyes $29.35 Breakout And Further Gains"},"content":{"rendered":"

Avalanche<\/span> (AVAX) has regained traction, showing signs of a potential bullish resurgence as it approaches a key resistance level at $29.35. After a period of consolidation, AVAX\u2019s price action hints at a possible <\/span>breakout<\/span><\/a>, which could trigger a strong upward movement. With technical indicators showing signs of strength, the market’s focus now <\/span>shifts<\/span><\/a> to whether Avalanche can sustain this upward momentum and push past the $29.35 barrier for a sustained move higher.<\/span><\/p>\n

This analysis aims to evaluate Avalanche’s recent price rebound and assess whether it has the momentum to break through the key $29.35 resistance level. By examining technical indicators, market sentiment, and price trends, we seek to determine if the token is poised for further gains, setting the stage for a sustained rally in the coming sessions.<\/span><\/p>\n

AVAX’s Strong Bounce: Will Momentum Continue?<\/strong><\/h2>\n

Following the bullish comeback at $25, <\/span>AVAX’<\/span>s price on the 4-hour chart has continued to gain strength to surge toward the $29.35 resistance level. AVAX is also trading above the 100-day Simple Moving Average (SMA), suggesting a positive upward trend that could lead to a potential breakout.<\/span><\/p>\n

\"Avalanche\"
AVAX’s upward push eyes $29.35 resistance level | Source: AVAXUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n

An analysis of the 4-hour Relative Strength Index (RSI) reveals that the signal line has risen above the 50% mark and is currently sitting at 74%, indicating strong bullish <\/span>momentum<\/span><\/a>. As long as the RSI remains elevated and buyers maintain control, the asset could experience additional gains with the possibility of reaching new highs.<\/span><\/p>\n

Related Reading: Can Avalanche (AVAX) Reclaim $30? Top Analyst Predicts A Dip Before A Bounce<\/a><\/div>\n

Additionally, the daily chart illustrates that AVAX is showcasing a significant upward push, characterized by a positive candlestick pattern following its rebound above the 100-day SMA. The asset is currently attempting to breach the critical resistance level at $29.35. Successfully overcoming this barrier would reinforce the prevailing upward trend and boost <\/span>market<\/span><\/a> sentiment, signaling heightened buying interest.<\/span><\/p>\n

\"Avalanche\"
Avalanche demonstrates strength after surpassing the 100-day SMA | Source: AVAXUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n

Finally, on the 1-day chart, a detailed examination of the RSI formation indicates that Avalanche may maintain its optimistic trajectory. The indicator’s signal line after dropping to 44% is rising again and is currently positioned at 59%,\u00a0 indicating that buying pressure could remain strong and potentially drive further price appreciation in the near term.<\/span><\/p>\n

What\u2019s Next For Avalanche If $29.35 Is Breached?<\/strong><\/h2>\n

If Avalanche successfully breaches the critical <\/span>resistance<\/span><\/a> level of $29.35, it could set the stage for a significant <\/span>rally<\/span><\/a> toward the $42 resistance mark. A breakout above this level could lead to a series of upward targets, pushing the price toward new highs as market confidence grows.<\/span><\/p>\n

Related Reading: Avalanche (AVAX) Ready To Target $28: Investors Expect A Reversal<\/a><\/div>\n

However, if Avalanche fails to maintain this strength and breaks above the $29.35 resistance level, it could result in a pullback, with the price sliding back toward the $18.85 <\/span>support<\/span><\/a> zone. A breakdown below this level could lead to more losses, possibly targeting lower support areas.<\/span><\/p>\n

\"Avalanche\"
AVAX trading at $28 on the 1D chart | Source: AVAXUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image from Shutterstock, chart from Tradingview.com<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"

Avalanche (AVAX) has regained traction, showing signs of a potential bullish resurgence as it approaches a key resistance level at $29.35. After a period of consolidation, AVAX\u2019s price action hints at a possible breakout, which could trigger a strong upward movement. With technical indicators showing signs of strength, the market’s focus now shifts to whether Avalanche can sustain this upward momentum and push past the $29.35 barrier for a sustained move higher. This analysis aims to evaluate Avalanche’s recent price rebound and assess whether it has the momentum to break through the key $29.35 resistance level. By examining technical indicators, market sentiment, and price trends, we seek to determine if the token is poised for further gains, setting the stage for a sustained rally in the coming sessions. AVAX’s Strong Bounce: Will Momentum Continue? Following the bullish comeback at $25, AVAX’s price on the 4-hour chart has continued to gain strength to surge toward the $29.35 resistance level. AVAX is also trading above the 100-day Simple Moving Average (SMA), suggesting a positive upward trend that could lead to a potential breakout. An analysis of the 4-hour Relative Strength Index (RSI) reveals that the signal line has risen above the 50% mark and is currently sitting at 74%, indicating strong bullish momentum. As long as the RSI remains elevated and buyers maintain control, the asset could experience additional gains with the possibility of reaching new highs. Related Reading: Can Avalanche (AVAX) Reclaim $30? Top Analyst Predicts A Dip Before A Bounce Additionally, the daily chart illustrates that AVAX is showcasing a significant upward push, characterized by a positive candlestick pattern following its rebound above the 100-day SMA. The asset is currently attempting to breach the critical resistance level at $29.35. Successfully overcoming this barrier would reinforce the prevailing upward trend and boost market sentiment, signaling heightened buying interest. Finally, on the 1-day chart, a detailed examination of the RSI formation indicates that Avalanche may maintain its optimistic trajectory. The indicator’s signal line after dropping to 44% is rising again and is currently positioned at 59%,\u00a0 indicating that buying pressure could remain strong and potentially drive further price appreciation in the near term. What\u2019s Next For Avalanche If $29.35 Is Breached? If Avalanche successfully breaches the critical resistance level of $29.35, it could set the stage for a significant rally toward the $42 resistance mark. A breakout above this level could lead to a series of upward targets, pushing the price toward new highs as market confidence grows. Related Reading: Avalanche (AVAX) Ready To Target $28: Investors Expect A Reversal However, if Avalanche fails to maintain this strength and breaks above the $29.35 resistance level, it could result in a pullback, with the price sliding back toward the $18.85 support zone. A breakdown below this level could lead to more losses, possibly targeting lower support areas. Featured image from Shutterstock, chart from Tradingview.com<\/p>\n","protected":false},"author":608,"featured_media":647592,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[89168],"tags":[9885,83347,86511,83609,93199,16393,14763,91599],"class_list":["post-647590","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-avax","tag-avalanche","tag-avax","tag-avaxusd","tag-avaxusdt","tag-candlestick","tag-relative-strength-index","tag-rsi","tag-simple-moving-average"],"acf":[],"yoast_head":"\nAvalanche Rebounds: Eyes $29.35 Breakout And Further Gains<\/title>\n<meta name=\"description\" content=\"Avalanche (AVAX) has regained traction, showing signs of a potential bullish resurgence as it approaches a key resistance level at $29.35.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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Trust me, I\u2019ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that\u2019s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets. My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies. Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people - people who make an impact in my life no matter how little it is. One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I'm so good at it. I am also very good at singing, dancing, acting, fashion and others. I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams. I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I\u2019m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top. I aspire to be a boss someday, having people work under me just as I\u2019ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.","sameAs":["https:\/\/x.com\/NFTwerey"],"url":"https:\/\/uniquehot.com\/author\/godspowerowie\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Avalanche Rebounds: Eyes $29.35 Breakout And Further Gains","url":"http:\/\/uniquehot.com\/analysis\/avax\/avalanche-eyes-29-35-breakout\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/analysis\/avax\/avalanche-eyes-29-35-breakout\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/photo_5787605995323769489_x.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/photo_5787605995323769489_x.jpg?fit=600%2C400"},"articleSection":"AVAX","author":[{"@type":"Person","name":"Godspower Owie"}],"creator":["Godspower Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["avalanche","avax","avaxusd","avaxusdt","candlestick","relative strength index","rsi","simple moving average"],"dateCreated":"2024-10-12T17:00:11Z","datePublished":"2024-10-12T17:00:11Z","dateModified":"2024-10-12T17:00:11Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Avalanche Rebounds: Eyes $29.35 Breakout And Further Gains\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/analysis\\\/avax\\\/avalanche-eyes-29-35-breakout\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/analysis\\\/avax\\\/avalanche-eyes-29-35-breakout\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/photo_5787605995323769489_x.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/photo_5787605995323769489_x.jpg?fit=600%2C400\"},\"articleSection\":\"AVAX\",\"author\":[{\"@type\":\"Person\",\"name\":\"Godspower Owie\"}],\"creator\":[\"Godspower Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"avalanche\",\"avax\",\"avaxusd\",\"avaxusdt\",\"candlestick\",\"relative strength index\",\"rsi\",\"simple moving average\"],\"dateCreated\":\"2024-10-12T17:00:11Z\",\"datePublished\":\"2024-10-12T17:00:11Z\",\"dateModified\":\"2024-10-12T17:00:11Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/photo_5787605995323769489_x.jpg?fit=600%2C400","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/647590","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/608"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=647590"}],"version-history":[{"count":3,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/647590\/revisions"}],"predecessor-version":[{"id":647611,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/647590\/revisions\/647611"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/647592"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=647590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=647590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=647590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}