Cryptocurrency AVAX shows signs of a potential reversal after several months of bearish pressure.
Declining Bearish Pressure
Since December 2024, AVAX has been trading within a descending channel characterized by consistently lower highs and lows. Recently, the price tested the lower boundary near $14.66, a historically strong demand zone.
Potential Bullish Reversal
Technical indicators suggest a possible bullish reversal, with a W-shaped recovery pattern emerging. Analysts predict that if AVAX breaks above key resistance at $22.71, bullish momentum may strengthen.
Historical Patterns and Forecasts
Historical price action supports the reversal scenario. In November 2024, AVAX formed a bullish flag followed by a sharp breakout. If history repeats, breaking out from the current demand zone could drive significant price increases.
AVAX showcases signs of potential future growth, with analysts focusing on reaching key levels that could confirm the end of the bearish trend.
