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#AVAX/USDT ANALYSIS
The price is consolidating within a falling wedge pattern and is currently bouncing off the support trendline. The Ichimoku cloud is acting as resistance above the pattern.
A breakout above the wedge would confirm a bullish trend, while a breakdown below the support trendline would invalidate the pattern.
The Ichimoku Cloud is showing bullish momentum, with the price well above the cloud, which typically indicates a strong uptrend. The cloud itself is green, suggesting continued bullish sentiment.
So long as it sustains this level, the bullish momentum is anticipated to endure. Yet, a dip beneath this threshold could signal a short-lived retreat before resuming the upward trend.
