🔺 $AVAX TO 55? THE FALLING WEDGE RETEST IS KEY.
Price has broken above the falling wedge and is testing its upper boundary from above. Holding that retest would strengthen the recovery setup.
The first hurdle is 12–14, followed by 20–24 and 32–36. Clearing those zones and the broader descending resistance would put 52–56 into focus.
The 0.786 Fibonacci level near 53.16 adds resistance around the 55 target, approximately 470% above the chart’s price.
The projected route then anticipates rejection toward 30–32, provided a reversal develops near 55.
A weekly close back inside the wedge would weaken the breakout and expose support at 5.50–6.50.
Price has broken above the falling wedge and is testing its upper boundary from above. Holding that retest would strengthen the recovery setup.
The first hurdle is 12–14, followed by 20–24 and 32–36. Clearing those zones and the broader descending resistance would put 52–56 into focus.
The 0.786 Fibonacci level near 53.16 adds resistance around the 55 target, approximately 470% above the chart’s price.
The projected route then anticipates rejection toward 30–32, provided a reversal develops near 55.
A weekly close back inside the wedge would weaken the breakout and expose support at 5.50–6.50.