Avalanche (AVAX) is approaching a critical resistance level at $14.83, with potential upside targets at $17.59 and $18.41 if a breakout occurs. The price is currently trading around $13.80, with analysts identifying an inverse head and shoulders pattern that suggests a bullish trend reversal. The pattern's left shoulder formed near $13.35, the head at $11.26, and the right shoulder near $13.75, indicating increasing buying pressure. Network activity on Avalanche has reached an all-time high, with 1.37 million active addresses recorded on January 13. This surge in activity is seen as a bullish signal, supporting the potential for a price breakout. Analysts are closely monitoring the $14.83 resistance level, as a confirmed close above this point could trigger significant upward momentum, attracting breakout traders and algorithmic strategies.
Avalanche Price Nears Breakout as Network Activity Peaks
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