Crypto
AVAX Breaks Out of Pennant Pattern, Eyes Crucial Resistance at $9
Avalanche's AVAX token has been on a tear, extending its winning streak to four consecutive days. The price broke above a multi-week pennant pattern, indicating stronger short-term buying power.
The token is currently trading above key moving averages, supporting its upward trend. However, it faces critical resistance at $9 before potentially reaching the $10 psychological level.
Increased decentralized exchange volume and whale activity on the Avalanche network add strength to the recovery outlook. But a rejection at $9 could trigger a pullback due to crowded long positions.