Avalanche (AVAX) Targets $13 as Crucial Bullish Pattern Emerges

Avalanche's AVAX token is flashing a bullish signal that could propel it toward a $13 target.

The Chart Speaks Volumes

A distinct technical formation has materialized on AVAX's price chart, a pattern historically linked with significant upward momentum. This isn't just a minor blip—it's a structural shift that suggests the recent consolidation phase is giving way to a decisive move.

Momentum Builds for the Breakout

The setup indicates that buying pressure is accumulating, setting the stage for a potential breakout. If the pattern holds and key resistance levels are breached, the path toward the $13 mark becomes a tangible scenario for traders. It's the kind of move that gets the market's attention, even from those traditional finance veterans who still think a 'blockchain' is something you use to lock up a bicycle.

Watch the Key Levels

All eyes are now on whether AVAX can capitalize on this technical alignment. The coming sessions will be critical in determining if this bullish promise translates into real price action, or if it becomes another entry in the crypto history books of 'what could have been.'

Avalanche (AVAX) Approaches Key Resistance Level

However, based on technical indications, AVAX appears to be making preparations for a potential breakout to the upside. A prominent crypto analyst, Alpha Crypto Signal, recently identified that AVAX is establishing a prominent ascending triangle in the 4-hour chart. As depicted in the visual, higher lows are attempting to reach a flat resistance area at $12.45-$12.55.

But if AVAX is successful in breaking through and closing above the horizontal resistance level, the gates could open for a further advance. The first target area in this advance could be set between $12.90 and $13.30, although significantly higher gains are also a possibility if the purchase volume surges. As long as AVAX is above the rising trend line, this bullish pattern will be deemed intact.

Investors are expected to focus on the $12.45-$12.55 resistance level as a strong breakthrough could signal a new short-term momentum for AVAX.

AVAX Weekly Momentum Still Weak

Avalanche’s RSI is currently close to 34.6, which is below the midline at 50 and reflects weak buying momentum. Additionally, the RSI is still below its signal line at 41.3, which is an indication of bearish pressure. The market is trading significantly lower than the MA Ribbon averages of 20.8, 21.8, 26.1, and 28.2.

The MACD is also flashing a series of bearish signals, given the fact that the MACD line is close to -2.16 below the signal line, which is at -1.05. The histogram is also in the negative zone, showing a series of downside moments.