Avalanche AVAX ⬆($42.90) broke above the resistance line of the ascending channel pattern on Nov. 22, indicating that the bulls have overpowered the bears.
If the price sustains above the resistance line, the AVAX/USDT pair could surge to $48 and futhermore past $50.
This positive view will depend in the near term if the price turns down and breaks below ($40.00). Such a move will signal that the breakout may have been a bull trap. The price may then dip to the ($35.00), extending the consolidation inside the channel for some more time.
If the price sustains above the resistance line, the AVAX/USDT pair could surge to $48 and futhermore past $50.
This positive view will depend in the near term if the price turns down and breaks below ($40.00). Such a move will signal that the breakout may have been a bull trap. The price may then dip to the ($35.00), extending the consolidation inside the channel for some more time.
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