Avalanche (AVAX) Surges: Will It Break $60 or Face a Pullback?

Avalanche's cryptocurrency, AVAX, has surged 100% after breaking out from a long-term downtrend, reaching a high of $47.81. Analysts are eyeing a potential rise to $60 if AVAX maintains support above $38.57 and overcomes resistance at $47.81. On-chain metrics show increased user activity and DeFi engagement, but technical indicators suggest a possible pullback due to overbought conditions. Traders are monitoring key support and resistance levels to gauge future price movements.