Crypto
Avalanche Price Breaks Out, Targets $126 as Market Momentum Builds
The price of Avalanche (AVAX) has been on the rise, reaching an intraday high near $11.38 on September 20. This surge in price came after a weak first half of September and pushed AVAX above its recent breakout zone.
Momentum indicators now show a stretched market, while derivatives activity has expanded. The rally also recovered ground lost earlier in September, with CoinGlass reporting a 7-day gain of 53.93%.
Analysts have been monitoring the situation closely, with Michaël van de Poppe pointing to a three-day bullish divergence built over several weeks. Van de Poppe noted that similar setups had preceded 60%-80% market advances.