Bull flag breakout pushes Avalanche toward $80 as AVAX price hits another record high By Cointelegraph

Bull flag breakout pushes Avalanche toward $80 as AVAX price hits another record high

CryptocurrencySep 12, 2021 10:00AM ET

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Bull flag breakout pushes Avalanche toward $80 as AVAX price hits another record high

Avalanche (AVAX) looks poised to hit $80 as per a classic technical pattern after hitting a new high of over $65 on Sept. 12.

Dubbed as "Bull Flag," the structure emerges as a brief sideways/downward trend following a strong price move higher. As a result, Bull Flags tend to look like downward sloping channels, represented by two parallel trendlines that trap the price action.

AVAX/USD daily price chart featuring bull flag. Source: TradingView.com

AVAX/USD daily price chart featuring Bull Flag profit target. Source: TradingView.com

Blockchains and their TVL performances. Source: DeFi Llama

Benqi is the leading dapp by TVL in the Avalanche ecosystem. Source: DeFi Llama

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Bull flag breakout pushes Avalanche toward $80 as AVAX price hits another record high

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