Avalanche (AVAX) continues to show relative strength compared to many other altcoin charts. Let’s break down the current market structure, key support and resistance zones, and what levels we need to watch next.
📊 Recent Price Action
$AVAX has been moving in a constructive structure since finding its low back in June.
Push higher into the July highs
Shallow pullback into the August lows
Continuation to the upside
At the moment, AVAX is facing some resistance, but the overall chart remains stronger than many other altcoins.
🔑 Key Levels to Watch
1. Resistance
$35.88 → 100% Fibonacci extension, currently acting as major resistance.
$44.31 → 138% Fibonacci extension, next key target if the move continues.
2. Support
Wave 4 Support Zone: $25.5 – $29
Structural Support: ~$27 – $28 (previous resistance, now flipped into potential support)
50% Retracement: ~$27 adds further confluence.
🌀 Wave Structure Outlook
Current move looks like a C-wave in an ending diagonal pattern (all corrective).
The third wave still appears incomplete and ideally should push higher.
If $AVAX holds above $25.5, the bullish case remains valid.
However, a break below $25.5 would be problematic for bulls and could suggest the bullish structure is invalidated.
🎯 Upside Potential
Next immediate target → $44.31
Possible fifth wave continuation → $50+