$AVAX surged by 60% since April, following a strong bounce from the support trend line of its ascending parallel channel. 🚀

In May, #Avalanche reclaimed the $20 level and confirmed it as a new support zone. The price is now attempting to break above the channel’s midline — a move that would further strengthen the AVAX bullish outlook. 📈

If successful, AVAX could rise toward the channel’s resistance trend line near $35. The channel’s proportional structure, combined with the $20 reclaim, suggests that a corrective phase may be complete.

If this analysis holds, AVAX could start a new bullish wave, which could lead to a high of $54 if it has the same length as the previous one.

👉 However, it is crucial for AVAX to hold above the $20 support level to maintain this bullish scenario.