Have You Seen Avalanche’s (AVAX) Insanely Bullish Chart Pattern?

Key Takeaways

Avalanche (AVAX) attempts to break out from a key resistance at $26.
AVAX has a fractal with PENDLE and LINK that predicts massive increases.
How much further can the AVAX price increase in the current market cycle?

Avalanche (AVAX) is approaching a pivotal moment as it tests the $26 resistance level, a breakout point that could begin a significant rally.

The wave count is similar to recent surges in PENDLE and LINK.

Let’s look at the charts to see if AVAX can pull a similar rally.

AVAX Price Analysis

The weekly time frame AVAX analysis shows that the price has traded inside a descending parallel channel since the cycle high of March 2024.

The price bounced in April (green icon) and reclaimed the $20 horizontal area, now likely to act as support.

However, AVAX still trades slightly below the channel’s midline.

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The wave count is extremely bullish. It suggests that AVAX has completed a long-term A-B-C correction (red) since the cycle high.

If that is the case, an upward movement has started that will cause a breakout from the channel.

The two targets for the rally’s top are at $74 and $110, respectively.

The main thing that needs to happen to confirm the bullish AVAX prediction is that the price needs to close above $26.

AVAX Weekly — AVAX/USDT Weekly Chart | Credit: Valdrin Tahiri/TradingView

This will take the price of AVAX above the channel’s midline and momentum indicators to cross bullish.

The Relative Strength Index (RSI) is at 50 while the Moving Average Convergence/Divergence (MACD) is nearly positive.

A continued price increase will cause both to move into bullish territory and confirm the bullish AVAX price prediction.

Bullish AVAX Formation

The daily time frame AVAX technical analysis is even more optimistic, showing an extremely bullish 1-2/1-2 wave formation.

The same formation led to massive increases in the prices of PENDLE and LINK last week.

AVAX Wave Count — AVAX/USDT Daily Chart | Credit: Valdrin Tahiri/TradingView

If the count is accurate, the price of AVAX is starting sub-wave three (black) of wave three (green), which is the most rapid portion of an increase.

Once AVAX breaks out above $26, it will confirm that the bullish trend has started.

Unlike the weekly time frame, daily momentum indicators are already bullish.

The RSI is above 50, and the MACD made a bullish cross, supporting the bullish AVAX prediction.

August Rally Ahead

If AVAX closes above $26, it could confirm the start of a parabolic upward movement.

Targets of $74 and $110 are in play for the current market cycle top.

The weekly and daily charts show strength, making an AVAX price breakout imminent.

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Disclaimer: The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.

About the Author

Valdrin Tahiri

Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.

He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.

Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.

He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.

[email protected]

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