AVAX Price Ready For Takeoff, Triangle Break Teases $30!

Coming to the end of 2023, the altcoins are preparing bullish continuation patterns and eye higher levels to the end. Similarly, the AVAX price trend displays a breakout rally ready to gain momentum in the 4H chart. 

Prolonging the uptrend in the daily timeframe, the breakout signals an early entry opportunity for short-term traders. Further, this movement aligns with the AVAX price prediction to a bullish end for 2023. 

Source – Tradingview

With a bullish failure to cross the $25 mark in November, the AVAX price trend puts the November rally into a sideways gear. The short-term cool down phase forms a triangle pattern in the 4H chart. 

Failing to get dynamic support from the 50EMA in the 4H chart, Avalanche manages to sustain the momentum. Further, the recent recovery with a higher low formation in the triangle highlights a strong underlying demand. 

With a YTD growth of around 100%, Avalanche is a decent performer with enough fuel left in the tank for a bullish December 2023. Currently, the AVAX price trades at $21.33 with an intraday growth of 1.04% and a boost in the intraday trading volume. 

Further, Avalanche can capitalize on the improving market sentiments, fueling a bullish chain reaction amongst the altcoins.  

Technical indicators: 

RSI: The daily RSI line remains tightly close to the overbought boundary. Further, the momentum indicator spikes with the bullish side’s breakout rally. 

EMA: Following the golden crossover, the 50D and 200D EMA maintain a bullish trend signaling a strong uptrend in motion.

Is AVAX Price Ready For A Bull Run?

As the breakout signal sirens off in the 4-H chart, the buyers prepare a stage to take off the AVAX price higher and further in December 2023. The breakout rally shows the potential to rechallenge the $25 mark and exceed it to $30.

However, if a second supply wave comes in, the Avalanche market value can plunge to $18.