The market has seen consistent upward movement, with the crypto industry enjoying 5 out of the last 7 days in the green, suggesting a strong possibility of a bullish end to the month. Additionally, AVAX, among various altcoins, has been performing exceptionally well, maintaining its position as one of the top gainers for three consecutive days.

AVAX's price has been following an expanding channel pattern for more than two weeks, a sign of bullish strength in the market. After a period of consolidation, AVAX recently experienced a Golden Crossover, which led to a significant surge in bullish momentum for the coin.

Moreover, this led to Avalanche (AVAX) experiencing a breakthrough beyond several resistance levels, reaching as high as $10.99. AVAX's market price approached these resistance levels and made attempts to surpass them but ultimately faced a setback. This decline suggests there might be a looming trend reversal on the horizon.

The Relative Strength Index (RSI) has consistently been trading above the midpoint for an extended duration, resisting multiple attempts to drop below this critical level. Additionally, the coin recently breached the overbought territory, signaling a potential upcoming downturn.

Will AVAX See a Value Recovery?

Should the bullish momentum persist and push the price above the $11.50 mark, AVAX is likely to continue its upward trajectory in the near future. Moreover, maintaining this level could set the stage for Avalanche to challenge the higher resistance at $12.00.

Conversely, if the bears manage to wrest control and keep the price below $10.99, it could usher in a bearish trend, leading to a further decline in price in the days ahead. If market sentiment remains lackluster, the price could continue to decrease and eventually test its lower support level at $10.48.

Additionally, in the event of a trend reversal, the price may experience a fall, potentially testing the support level at $9.96 in the near future.