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- Avalanche has actually carried out well on the cost charts over the previous 6 weeks.
- An extension of the strong uptrend was anticipated.
Avalanche [AVAX] retested an essential Fibonacci retracement level and bounded greater on the rate chart. This suggested that bulls had the upper hand which a relocate to $30 was next. Avalanche likewise saw a substantial climb in its NFT sales volume.
The Dokyo collection taped a volume surpassing $1.4 million and enhanced Avalanche to the greatest NFT sales volume in 3 months. Integrated with the rate action, self-confidence in the property was high.
The Fibonacci extension levels provided a savory target for the bulls
Source: AVAX/USDT on TradingView
The $19-$20.7 zone was highlighted in green as it was a previous resistance zone. In mid-November, it had actually been turned to support, however some volatility within this zone was anticipated as the lower timeframes were most likely to see relocations in search of liquidity.
One such dip took place on 21st November,
