- AVAX price jumps 9% to $18.08 amid market-wide crypto rally
- Trump’s tariff shift sparks global surge; Bitcoin tops $82K.
- Avalanche forms bullish falling wedge, testing $27.56 resistance
- Breakout could send AVAX to $33, $41.50, $50, and even $60.50
Avax is waving in a bullish trend with the overall market due to Trump’s tariff announcement, which raises Bitcoin’s price. Its price is up by 9.21% on the one-day chart, and on the higher timeframe, it is up by 4.72% in the last week.
At the time of writing, Avalanche’s price is $ 18.08, with a 24-hour trading volume of $ 1.103B and a market cap of $ 7.52B.
Source: Coinmarketcap
AVAX Eyes Breakout to $60 as Market Heats Up
As a positive sign for the market, President Donald Trump announced a 90-day pause on tariffs for most countries, reducing them to a universal 10%, while simultaneously increasing tariffs on Chinese imports to 125%. This policy adjustment created an immense market rally, and the Dow Jones Industrial Average rose more than 2,200 points. Bitcoin also saw an increase, rising to over $82,000 after the announcement. Some other cryptocurrencies, including Ether and Solana, recorded similar gains, showing an upward trend in the crypto market.
The crypto observers highlighted that Avalanche is creating a falling wedge pattern and is now testing resistance at $27.56. This pattern suggests reducing price compression, which tends to imply a possible breakout. Whenever Avalanche breaks this level of resistance, it can hint at an upward move.
A break above $27.56 can send Avalanche’s price to different targets, ranging from possible prices at $33.00, $41.50, $50.00, and $60.50. These mark major points at which the price can potentially encounter resistance as it moves upward.
Source: X
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