๐ $AVAX: A RETURN TO $35 WOULD REQUIRE MORE THAN A REBOUND
Previous bottom-to-top advances on this weekly chart delivered approximately 1,533%, 656% and 229%. The strongest move carried $AVAX from around $9 to its 2021 high near $147.
Now, $AVAX is around $11.39, recovering from a potential base after another prolonged decline. The rebound is visible, but a sustained trend reversal remains unconfirmed.
$14โ$16 is the first resistance zone. A weekly close above it and a successful retest would strengthen the recovery and put $20โ$22 in focus.
Reclaiming that second zone would help establish higher highs and higher lows. Above it, $30โ$35 is the next major resistance area, alongside the broader descending trendline.
The green scenario maps a recovery toward $35, approximately 207% above the $11.385 shown on the chart. Reaching that area would also bring a significant test of the longer-term downtrend.
$8โ$10 is the first support to defend. Losing it would weaken the potential base and bring $6โ$7 back into focus.
For $AVAX, turning the first resistance into support is the next step toward the $35 scenario.
Previous bottom-to-top advances on this weekly chart delivered approximately 1,533%, 656% and 229%. The strongest move carried $AVAX from around $9 to its 2021 high near $147.
Now, $AVAX is around $11.39, recovering from a potential base after another prolonged decline. The rebound is visible, but a sustained trend reversal remains unconfirmed.
$14โ$16 is the first resistance zone. A weekly close above it and a successful retest would strengthen the recovery and put $20โ$22 in focus.
Reclaiming that second zone would help establish higher highs and higher lows. Above it, $30โ$35 is the next major resistance area, alongside the broader descending trendline.
The green scenario maps a recovery toward $35, approximately 207% above the $11.385 shown on the chart. Reaching that area would also bring a significant test of the longer-term downtrend.
$8โ$10 is the first support to defend. Losing it would weaken the potential base and bring $6โ$7 back into focus.
For $AVAX, turning the first resistance into support is the next step toward the $35 scenario.
