Avalanche’s [AVAX] price was resting at a critical stage as the chances of AVAX flipping Shiba Inu [SHIB] were high
Despite the price uptick, market sentiment around AVAX remained bearish.bulls were holding their ground as the token managed to sustain its price uptrend.to become the 11th largest crypto., AVAX’s price had risen by more than 7% in the last seven days. In the last 24 hours alone, the token’s value surged by over 4%.
The good news was that AVAX’s price was just about to break above that pattern. If the token manages to do so, then investors can expect a massive bull rally. SHIB’s NVT ratio registered an uptick, indicating a price decline. A drop in SHIB’s price might help AVAX flip the meme coin if it breaks above the falling wedge.To see the chances of AVAX remaining bullish, AMBCrypto analyzed its metrics. We found that its open interest increased along with its price.
On top of that, the MACD also displayed a bullish crossover, further hinting at a continued price uptick.
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