Here's What Awaits AVAX in September | Credit: Hameem Sarwar
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Key Takeaways
Avalanche’s (AVAX) price broke out from the $27 resistance area.
The AVAX price has moved above the midline of a long-term channel.
Will AVAX rally for the rest of September, or will it correct instead?
Avalanche (AVAX) broke out from a critical resistance with strong momentum behind it.
After several failed breakout attempts, the AVAX price finally broke out from the $27 resistance area.
Bullish indicators are stacking up, fueling speculation that AVAX could finally push higher.
For now, traders are watching closely to see if this run sets off a broader rally—or if the price will fail to sustain its breakout.
AVAX Price Attempts Breakout
The weekly time frame chart shows that AVAX is breaking out from the $27 horizontal resistance area, which has existed since the start of the year.
If it successfully closes above it, it will indicate that the previous correction is over and that the price will now enter the next phase of its bullish trend.
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AVAX has made three unsuccessful breakout attempts so far, and since resistances weaken each time they are touched, the current one could be successful.
If that happens, AVAX can hit the diagonal resistance at $35, which has existed since the start of 2024.
A successful breakout above it could quickly take the AVAX price to a new cycle high.
Momentum indicators have just turned bullish. The Relative Strength Index (RSI) crossed 50 while the Moving Average Convergence/Divergence (MACD) exceeded 0.
When combined with the proximity to a breakout from the price action, the AVAX price is on the precipice of a massive breakout that will lead the price to new highs.
Avalanche Correction Over
Avalanche’s wave count is extremely bullish, reiterating the strength found from the daily time frame breakout.
Since the start of the year, AVAX has traded inside a descending parallel channel, creating what is likely an A-B-C corrective structure (red).
Waves A and C had the same ratio, supporting the possibility that this is the correct count.
If this is the case, AVAX has started a new five-wave upward movement in April (green icon), which is still ongoing.
So, the AVAX price has likely started a bullish trend reversal, but how exactly it will develop remains a mystery.
Future AVAX Trend
Because of the breakout, the AVAX price has confirmed s a 1-2/1-2 wave structure, an extremely bullish formation predicting a parabolic increase right around the corner.
If this count transpires, it means that AVAX has already started its rapid increase, since it is currently in sub-wave three of wave three.
The count fits better with the long-term movement since it would relatively quickly take the AVAX price to its long-term resistance at $53.
Unless the AVAX price retraces all of its previous gains and closes below $27, something which seem unlikely, the most likely scenario is a parabolic increase to a new cycle high.
Will AVAX Take a Bullish Path?
AVAX has finally broken out from a critical resistance area that had thwarted the upward trend for several months.
A confirmed close could send the token soaring toward $35, potentially higher, while an unlikely deviation would be extremely bearish for the future trend.
In any case, it seems that bulls have taken over and the AVAX price will increase the rest of the year.
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.
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.
