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input: Avax is waving in a bullish trend with the overall market due to Trump’s tariff announcement, which raises Bitcoin’s price. Its price is up by 9.21% on the one-day chart, and on the higher timeframe, it is up by 4.72% in the last week.
The price of Avax is up by 9.21% in the last 24 hours and is trading at $18.08 at the time of writing. The relative strength index (RSI) on the 14-day time frame is 63.26, indicating that the token is in overbought territory. However, the token's price has increased by 4.72% in the last week.
Avax has been following the overall market trend closely. After President Donald Trump announced a 90-day pause on new tariffs for most countries and reduced them to a universal 10% on Wednesday, the Dow Jones Industrial Average rose more than 2,200 points. After the announcement, Bitcoin saw an increase, rising to over $82,000.
Trump's administration also announced an increase in tariffs on Chinese imports to 125%. This policy adjustment created an immense market rally. Some other cryptocurrencies, including Ether and Solana, also recorded triple-digit gains, showcasing an upward trend in the crypto market.
Chart: Avax Testing Key Resistance Ahead Of Breakout To $60
Avax is aiming for a breakout as it tests an area of strong resistance. A breakout above this level can send the token's price surging to the next resistance.
On the one-day chart, Avax is forming a falling wedge pattern. This pattern marks a period of decreasing price volatility and suggests an upcoming breakout.
The crypto token is now testing resistance at the $27.56 level. This level has previously halted Avax's price on multiple occasions. A break above this point can be a decisive move that indicates the continuation of the uptrend.
If there is a breakout above the $27.56 resistance, then Avax's price can move to different price targets. The next levels of resistance are at $33.00, $41.50, $50.00, and $60.50. These mark major points at which the price can potentially encounter resistance as it moves upward.
The post Avax Price Set For Breakout As Trump's Tariff Announcement Heats Up Market appeared first on TokenPost.
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