Analysis indicates that Avalanche (AVAX) has confirmed a bullish structure after breaking key trendlines across multiple timelines. Traders are monitoring its price action near significant support and resistance levels.
Long-Term Setup Shows Confirmed Breakout
AVAX recently exited a symmetrical triangle that held its price action for over three years. The breakout has triggered renewed interest among traders, indicating an onset of a new accumulation phase. Analyst Crypto Patel noted that AVAX broke out of a falling wedge with strong follow-through. "The price retested the $20 level twice, confirming its structural integrity."
Short-Term Trends and Support Levels
Assad Tannous also provided insights focusing on short-term price movements and support levels. He emphasized that AVAX price is hovering near $24.53. "If momentum holds, AVAX could continue its climb from this recovery base."
Conclusions and Predictions
The analysis suggests active accumulation in the range of $17 to $25, holding steady during recent pullbacks. With various technical confirmations in place, projections indicate potential targets of $50.03, $100.00, $146.18, and $282.48, suggesting significant growth potential.
Overall, the outlook for AVAX remains optimistic, especially if the price continues to stay above the $20 mark. Traders and analysts are keenly observing its trajectory while anticipating further growth.
