This summary text is fully AI-generated and may therefore contain errors or be incomplete.
Avalanche (AVAX) is showing signs of a potential breakout above the $10.20 resistance level. If the price manages to surpass $11.85 on the daily chart, it could indicate a further rally towards $13.80. The current price action is similar to SOL and LINK, suggesting a possible 20% increase. In recent days, AVAX has experienced a recovery from the $8.65 support zone, forming a double bottom pattern. The price has moved above a key bearish trend line and is now trading above the 50-day simple moving average and $10.50. This indicates a bullish breakout above the $11.20 level, with immediate resistance at $11.85. If the price breaks this resistance, it could rally over 20% and potentially reach the $13.80 level. However, if the price fails to break above $11.84, it may find support at $10.50 and $10.00. A close below the 50-day simple moving average could lead to a decline towards the $8.65 support zone. Overall, the current price action suggests a positive outlook for AVAX, with a potential rally towards $13.00 and $13.85. However, a bearish wave towards the $10.50 zone or even $9.75 is also possible if the bullish momentum weakens.