Stock Groups

Avalanche eyes 60% rally as AVAX price breaks out of bull flag -Breaking

[ad_1]


Avalanche (AVAXIts case for an upside run to $160 is strengthened by the break out from its bullish pattern this week.

bull flag“The pattern occurs when the price settles lower/sideways on two parallel trendlines after an upside movement (flagpole). The price may break out of the channel range later to maintain the upward trend and rises by the flagpole’s height.

Bull Flag Pattern on daily price charts TradingView
The AVAX/USD price chart for the day shows key events that occurred during week ending December 19. TradingView
Price chart for the week. Source: TradingView
Chart of the weekly AVAX/USD price. Source: TradingView