AVAX eyes recovery: failed H&S patter could propel price to $53AVAX reached the target we highlighted a couple of days ago, and the price has now formed a bearish head and shoulders pattern. This pattern suggests that if the price drops below $38 per coin, AVAX could head substantially lower. However, with the fundamentals and trend being bullish, it seems unlikely that that will happen at this time. Instead, we trust the trend and expect traders to support the price between $38 and $40.28 per coin.
We could see a higher low from this range, pushing the price towards $44. What's particularly interesting is that if the $44 level is breached, it would trigger what we call a failed head and shoulders pattern. This pattern indicates that if the price moves above $44 per coin, it could gain 21.63% and reach $53.61 per coin.
What is your take on AVAX?
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