AVAX Maintains Bullish Structure as Analysts Predict a 504% Rally

• AVAX eyes a breakout as analysts predict a 504% surge, targeting $126.03 with potential long-term gains beyond $200.
• Despite past corrections, AVAX maintains bullish structure, with key resistance at $176.63 and an extended scenario at $2,432.24.
• A falling wedge pattern hints at a bullish breakout, with rising volume and strong momentum targeting $30 to $50 in the near term.

JavonMarks highlights a $126.03 breakout target for AVAX with a projected upside of over 504%. Moreover, analysts see a long-term bullish trajectory, hinting at a price surge into the $200 range. Despite recent consolidation, AVAX maintains a strong foundation for an uptrend.

AVAX Holds Bullish Structure Amid Market Fluctuations

The analysis showcases AVAX rally surging by 11,640% before encountering resistance. The price then went through a correction phase, making lower highs and lower lows after this peak. The positive trend is unaffected by this pullback. The current price of AVAX is $22.50, which is a brief drop from previous highs.

Two key resistance levels emerge. The first, at $176.63, aligns with a prior high, indicating a critical price threshold. The second, at $2,432.24, represents an extended bullish scenario. While the volume profile remains unseen, the price action suggests strong liquidity zones. The higher low formation supports an uptrend, though sustained buying pressure is needed to push prices higher.

Falling Wedge Signals Upcoming Price Surge

Another perspective comes from CW, who identifies a falling wedge pattern nearing completion. AVAX has been consolidating within this formation, characterized by lower highs and lower lows. Historically, falling wedges signal impending bullish breakouts, making AVAX a token to watch.

Previously, AVAX peaked near $50 before a prolonged downturn. Recently, buying momentum has increased at the wedge’s lower boundary. A slight recovery has placed AVAX at $20.65. If bullish momentum sustains, AVAX could target resistance levels between $30 and $50.

A surge in the trade volume indicates greater engagement. A green volume bar also indicates fresh interest in buying. Expectations of an impending rally are strengthened by a curving white line on the chart that depicts a predicted rising trajectory.

Volatility may increase as AVAX approaches the apex of the wedge. The price may confirm a positive reversal if it breaks above the wedge. In order to overcome resistance levels, strong momentum will be necessary.

Source