Avalanche (AVAX) Shows Promise of Rallying Higher: Fractal Analysis Signals Potential for Bullish Movement

The cryptocurrency market saw a surge in bullish momentum following Jerome Powell’s hints at potential rate cuts in September, with Ethereum (ETH) hitting a new all-time high above $4,878. This positive energy has also impacted Avalanche (AVAX). 24 hours after the latest rally, AVAX has gained over 8% and its price action is currently exhibiting bullish technical setup that resembles Arbitrum’s (ARB) recent breakout pattern.