The cryptocurrency market continues to display volatility, however, some altcoins like Avalanche (AVAX) are showing signs of positive movement.
Symmetrical Triangle on AVAX Chart
On the daily chart, AVAX is forming a "symmetrical triangle", often viewed as a continuation structure, but can break either way depending on momentum.
The latest rejection from the resistance trendline near $26.75 pulled the price down towards its support base around $22.74. Buyers convincingly defended that level, sparking a rebound. This recovery has helped AVAX reclaim its 50-day moving average ($23.87), with the token now trading around $24.65, signaling early resilience.
What’s Next for AVAX?
From here, the price action is likely to test the resistance trendline near $26.20. A clean breakout above that barrier, ideally backed by strong volume, would confirm bullish momentum and potentially trigger a run toward the technical target of $33.00 based on the triangle’s measured move projection.
On the other hand, failure to sustain momentum and a drop back below $22.74 would expose AVAX to a deeper retracement before any fresh attempt at recovery.
Conclusion
The cryptocurrency market displays a variety of movements among tokens. Avalanche (AVAX) stands out with the formation of key patterns that may indicate possible future movements. The coming days will be crucial in determining the further trajectory of AVAX.
Despite the general volatility in the cryptocurrency market, Avalanche (AVAX) is showing signs of strength, attracting the attention of traders and investors.
