AVAX Technical Analysis: Triangle Keeps The Rally Within

AVAX coin price shows a solid triangle pattern in the daily chart that has kept the overnight bullish growth of almost 15% within the check. Key technical points: The AVAX coin price fails to outgrow the triangle pattern despite 15% overnight growth The Stochastic RSI shows the K and D line avoid a bearish crossover The 24-hour trading volume in Avalanche’s token is $2.25 Billion, indicating a 45% rise. Past Performance of AVAX AVAX coin price shows the bullish growth of almost 15% overnight resulting in a complete bullish engulfing candlestick and a short follow-through candle with 15 hours left. The rally surpasses the $85 mark and outshines the merged 50 and 100-day EMA. However, the rally shows higher price rejection from the resistance trendline of the triangle pattern. Source-Tradingview AVAX Technical Analysis The AVAX coin price shows a boom in buying pressure evident by the jump in trading volume, but bulls struggle to surpass the resistance trendline. However, the increasing recovery of the overall crypto market can result in the triangle breakout. The crucial daily EMAs show the 50 and 100-day averages merged to give a potential crossover. However, the recent recovery can help avoid the crossover and maintain the bullish alignment. The MACD indicator shows the fast and slow lines give a bullish crossover in the positive territory with the recent reversal. Furthermore, the start of a bullish MACD histogram hints at a...