Avalanche's native token, AVAX, is making headlines as it breaks through a significant long-term descending resistance line. This development has sparked renewed interest among investors and analysts, and the publication demonstrates positive momentum in the developments surrounding the token, hinting at a possible shift in market dynamics.
Bullish Signal from Recent Breakout
The recent breakout above the resistance line is seen as a bullish signal, suggesting that the downward pressure on AVAX may be diminishing. Analysts believe this could pave the way for a price recovery, as market sentiment shifts towards a more optimistic outlook. Investors are closely monitoring this trend.
Potential for Price Recovery
Sustained momentum above this key level could lead to further gains in the coming weeks.
The Axie Infinity ecosystem has recently seen a surge in AXS token value, contrasting with the bullish momentum of Avalanche's AVAX. For more details, click here.
