AVAX Price Analysis: Bullish Momentum Stalled, Will It Reach $100 in 2024?

Key Points:

AVAX price faces a potential triple top threat, indicating a bearish reversal if the price breaks below $30.

The current sideways trend suggests a lack of momentum and indecision among buyers and sellers.

A bullish surge above $40 could reignite the uptrend and push AVAX towards $68.

Stalled Bull Run?

The recent AVAX price surge stalled near $36, raising concerns about the continuation of the uptrend. The failure to surpass this resistance level and the sideways trend raise doubts about the possibility of AVAX reaching $100 in 2024.

Double Bottom Failure?

The bulls' inability to break through the $38 resistance level suggests a double bottom pattern failure. This technical pattern also foreshadows a potential price decline if the broader market corrects.

The overall market sentiment plays a crucial role in AVAX's price movement. If the broader market experiences a bull run this week, AVAX could potentially surpass $40 and climb towards $50. However, a bearish reversal in the market could drag AVAX down to retest its $30 support level.

So, will AVAX price reach $100 this year? What will the upcoming week hold for AVAX?

Read the full article for a detailed breakdown of the AVAX price prediction and analysis: https://coinpedia.org/price-analysis/avax-price-upcycle-faces-triple-top-threat/

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