Avalanche breakout - analysis for 17.03

AVAX broke out of the two resistance zones in the last few hours. The next major resistance zone is at the price level of ~42.9 - 43$, which is at least a 30% move from here. Current ATH level is located at 60.83$ - 87% price growth from current level. So, to the point - why we can see upside price moves?

- Big breakout through crucial price levels
- Many significant events planned for March by Avalanche team (List of them is below)
- Recent retest of the trendline which we're respecting from the start of January
- Constantly growing volume from the last 2 days

Besides all of that, AVAX is a really solid project which has a lot of potential if properly managed in the future.

Potential bearish scenario would be a break below the current biggest trendline - then we can see a move to the 23.8 - 22$ level, which is very unlikely to happen.

• AVAX/BZRX Partnership
  
• Staking & NFT Support
  
• European Stablecoins (CHF and EUR confirmed)
  
• Trust Swap Integration
  
• Frontier Integration
  
• Velox Integration
  
• DSLA Protocol Integration
  

You can read about them more at the coinmarketcal. Happy trading!

(As always - not a financial advice)