Avalanche (AVAX) Price Resumes Major Bullish Rally as Key Support Holds: Here’s the Target
CryptoBullet’s recent analysis of AVAX/USDT on the weekly timeframe reveals a technical setup that points to significant upside potential. The analyst highlights a classic breakout-retest pattern that typically precedes strong bullish movements in the crypto market.
The crucial support zone between $35-$42 has demonstrated remarkable resilience. After breaking above this historically significant resistance level, AVAX price executed a textbook retest of the zone, which now serves as robust support. This price action validates the strength of the ongoing uptrend. The price is now going up, currently trading at $48.
Target Zone Analysis for AVAX Price
The technical projection suggests AVAX is positioned for a move toward the $150-$180 range. This target aligns with historical price action and key Fibonacci extension levels that often guide cryptocurrency price discovery phases.
While the setup appears strong, market participants should monitor the critical support zone at $35-$42. A failure to maintain this level could invalidate the bullish scenario. Additionally, broader market dynamics, particularly Bitcoin’s performance and macro factors, remain influential in determining AVAX’s trajectory.
The weekly chart structure indicates a high-probability continuation pattern. The successful retest of previous resistance as support strengthens the case for further upside.