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Key Insights:
- AVAX price forms a falling wedge pattern with $22.43 as the first bullish breakout target.
- Long-term analysts eye $60, $100, and ATHs as AVAX trades below historical resistance.
- Avalanche price must hold above $17 support to sustain bullish momentum.
Avalanche (AVAX ) price currently presents strong evidence of a possible breakout of a multi-week slump, as a variety of bullish write-in patterns begin to form on various time-frames. The altcoin trades at $17.72 as of the time of writing, but it attracted a new attention when it created a falling wedge structure and continued supporting the position and level of above $17.
Consequently, analysts predict AVAX price targets between $22 in the short term and $100 and above in one year.
Avalanche Price Forms Bullish Falling Wedge
Analyst Crypto Joe has identified a falling wedge on the 1-hour chart, which, when coupled with increasing volume, is normally a bullish reversal pattern. AVAX price recently broke out of the wedge, reclaiming the $18 level and setting sights on a price target of $22.43. The descending resistance line of the pattern was broken when the price action reversed and turned bullish, with the lowest trendline.
Besides, the breakout is supported by the recovery in momentum indicators, which also supports the bullish view. The falling wedge pattern has historically preceded strong rallies in altcoins, and if volume continues to rise, AVAX price could hit the $22.43 level in the coming days.
This configuration indicates that bulls are starting to resume control after weeks of bearish pressure. A breakout above $19.50 would probably confirm the wedge break and identify a potential change in near-term mood.
Traders Target $22.72 as Invalidation Remains Clear
Strengthening this bullish formation, analyst TheTrench has entered a long on AVAX position, referring to the 30-minute chart. He noted a breakout of a downward sloping resistance line, and a clear invalidation level at or slightly below $17.30.
The chart revealed that Avalanche price had been consolidating within a descending range but has now flipped structure with a higher low.
Under his setup, the logical resistance is at $22.72, a price that has been tested earlier this month. A move to this zone would be a 28% gain against the current price. The closeness of the invalidation zone facilitates optimal risk-reward positioning on the part of traders with short-run bullish interest.
High-Timeframe Targets Suggest Rally To $100
Even as short-term setups are attracting some interest, high-timeframe traders are also chiming in with more far-reaching projections. Analyst Chris has recently given an extended AVAX chart that has a target of $60, $100, with a break into all-time highs again. He started positioning in the $17 range and highlighted the undervaluation of the coin in comparison to BTC and ETH.
His weekly chart highlighted three obvious resistance areas that coincide with the past cycle tops. The first target at $60 corresponds to a major consolidation zone from early 2022, while $100 reflects the final resistance before AVAX’s previous all-time highs. Chris added that he even lacks an invalidation level, which he sees as convincing evidence of the AVAX potential in the long run.
These may come true in the next 6-12 months, assuming a change in macro sentiment towards altcoins and a breakneck pace to network development.
Avalanche Price Must Hold $17 to Sustain Bullish Momentum
Analysts agreed that AVAX must hold above the $17 support to maintain a bullish bias. A drop below this level could invalidate the wedge breakout and short-term rally setup. However, with price holding above $17.30, market structure remained intact.
If AVAX breaks the $22–$23 resistance zone and sustains momentum, it could rally toward $35 or even $60 in the coming weeks.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
