The Avalanche (AVAX) price broke out from a 455-day descending resistance trend line two weeks ago.

Despite the long-term breakout, the price failed to sustain its upward movement above a critical horizontal resistance area.

AVAX Breaks out From 455-Day Resistance

The weekly timeframe technical analysis shows that the AVAX price has fallen under a descending resistance trend line since August 2022. The trendline led to a low of $8.60.

During the decrease, AVAX seemingly broke down from a long-term horizontal support area in place since the start of 2021.

However, the ensuing increase caused a reclaim of this area, rendering the previous drop as only a deviation.

Two weeks ago, the AVAX price broke out from the descending resistance trend line, which had been in place for 455 days.

Market traders use the RSI as a momen

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Author: Valdrin Tahiri

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