(AVAX) strengthened its trend of a possible bull run towards $ 160 in the coming sessions, as it broke a classic bullish pattern earlier this week.
Called a “bull flag”, the pattern arises when the price consolidates down / sideways between two parallel trend lines (flag) after experiencing a strong bull move (flag pole). Then, in theory, the price breaks out of the channel range to continue the uptrend and tends to rise as high as the height of the flagpole.
AVAX went through a similar price trajectory over the past 30 days, containing a roughly 100% rally from the flagpole to nearly $ 150, followed by a 50% flag correction to $ 72, and a move of break above the flag’s upper trend line (around $ 85) on Dec 15.
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