Dear Bitruers,
Today, we are excited to share a new article about AVAX!. Be sure to follow Bitrue's Official Twitter and Telegram to stay updated!
Introduction
An esteemed crypto analyst, known as Rekt Capital, highlighted a substantial surge of over 460% in the past 90 days for Avalanche (AVAX), a robust contender against Ethereum (ETH). This surge signified a confirmed breakout, as explained by the analyst who emphasized critical support and resistance levels within the market.
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Price Analysis on AVAX
Rekt Capital shared insights with social media followers, underlining Avalanche's technical confirmation of breaking out by transforming its macro downtrend from resistance into support. While the ultimate price projection for AVAX wasn't specified, the analyst outlined key observations:
Avalanche successfully retested the macro downtrend, now functioning as new support. Following this retest, AVAX experienced a 36% surge, heading towards $32, with potential for further growth. This retest signifies the end of the macro downtrend. On October 16, AVAX traded at a low of $8.65; as of the latest data, it's at $47.79, marking an impressive surge of around 460% in the last three months, albeit experiencing a partial decline in the last day.
Retest Process in OCEAN
Additionally, the analyst highlighted Ocean Protocol (OCEAN), a data monetization project, mentioning its successful retest of a crucial area, establishing support and indicating a potential rally toward $0.64. The analyst's monitoring approach was emphasized:
OCEAN confirmed a successful retest of a critical area, now aiming towards resistance, recording a 20% uptick. The cryptocurrency has fully confirmed a breakout, and I'm closely monitoring its movement.
At the time of writing, OCEAN traded at $0.561, marking a 1.73% increase in the last 24 hours.
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