Avalanche Surges 90% in November, Eyes $134 Breakout

Avalanche Soars 90% in November, Bullish Trend Points to $134 Potential

Avalanche (AVAX) experienced a significant surge of 90% in November, breaking through a critical resistance trend line. This rally has set the stage for a bullish trend, with technical indicators and wave patterns suggesting further gains toward a potential breakout to $134. Short-term targets are set at $74.70, while long-term projections could push the price to as high as $205.

Strong Technical Signals Fuel Optimism

Since September, Avalanche has been climbing steadily along an ascending support trend line. November marked a sharp bounce, with AVAX producing four consecutive bullish weekly candles and reaching a high of $49.15. Currently, the price sits at $47, which serves as the final hurdle before challenging the yearly high of $65.39.

Several technical indicators confirm the strength of this bullish trend:

• The Relative Strength Index (RSI) broke free from a bearish pattern, now sitting above 50, indicating strong buying pressure.
• The Moving Average Convergence Divergence (MACD) made a bullish cross above zero, further supporting the positive outlook.
• Both RSI and MACD suggest that the rally is not showing signs of weakness or overbought conditions.

These indicators point toward continued growth, suggesting that Avalanche could see further gains in the near future.

Bullish Wave Patterns Indicate Long-Term Potential

Wave analysis also supports the optimistic outlook for AVAX. Experts believe the token may be in either wave C or wave three of a larger five-wave structure. Both scenarios suggest the price could rise significantly over the coming months. Key targets for this bullish wave include:

• $134: This target aligns with the wave A:C ratio.
• $205: A five-wave expansion could push Avalanche to $205, as wave three typically extends 1.61 times wave one.

In the short term, AVAX appears to be completing wave three within a smaller five-wave pattern. This phase could peak at $74.70, setting a new yearly high before a potential pullback. Despite the daily RSI showing overbought conditions, there are no bearish signals, suggesting the rally still has room to grow.

Conclusion

The surge in Avalanche’s price by 90% in November signals a token on the rise. With strong technical indicators, consistent momentum, and promising wave patterns, AVAX is poised for continued growth. Short-term targets are optimistic, with $74.70 as the next milestone, while long-term projections point to a potential breakout to $134 or even $205.