**Summary:**
Avalanche’s native token, AVAX, is approaching the significant $50 milestone after breaking free from a descending resistance trend line. Market analysts, including Bluntz Capital and Flash, express bullish sentiment about AVAX’s future trajectory.
**Introduction:**
Avalanche’s native token, AVAX, is on the verge of reaching the significant $50 level. Over the past month, AVAX’s price has skyrocketed from $19.6 in November to a new yearly high of $46.40. This rapid ascent has been fueled by the coin breaking free from a 750-day descending resistance trend line that had been a barrier since its all-time high.
**Main Points:**
1. Bullish Momentum: AVAX’s breakout from the descending resistance trend line intensified the rally, resulting in eight bullish weekly candlesticks in just nine weeks.
2. Analysts’ Outlook: Market analysts and traders share a bullish sentiment about AVAX’s future trajectory. Bluntz Capital’s wave count signals the completion of the fifth and final wave around the $55 mark, while Flash sets a target of $65, noting the breakout from a long-term pattern and movement above a crucial horizontal resistance area.
3. Elliott Wave Theory: A closer look at the daily time frame through technical analysis, specifically using the Elliott Wave theory, suggests a bullish trajectory for AVAX. It is believed to be in the fifth and final wave of an upward movement that started in September, with the length of wave five exceeding 0.618 times the combined length of waves one and three.
4. Target and RSI: The next plausible target for AVAX is set at $59, aligning wave five with the combined length of waves one and three, indicating a possible 28% increase. The daily Relative Strength Index (RSI) further reinforces the bullish outlook as it has broken out from its bearish divergence trend line and is on an upward trajectory.
**Conclusion:**
AVAX’s native token is approaching the $50 milestone, driven by its breakout from a descending resistance trend line. Market analysts express bullish sentiment, pointing to a completion of the fifth wave, with targets set at $55 and $65. Technical analysis supports this outlook, with the Elliott Wave theory suggesting a bullish trajectory. The next plausible target is $59, and the daily RSI reinforces the positive outlook by breaking out from its bearish divergence trend line.