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- AVAX holds key support, signaling strong accumulation and bullish potential.
- Fibonacci targets point to $126.03, aligning with AVAX’s breakout momentum.
- Volume surge could confirm a breakout, driving AVAX toward a 450% gain.
Avalanche (AVAX) has been displaying orderly price action, reaffirming bullish momentum following the confirmation of a breakout. The market structure shows continued strength, positioning AVAX for an upside rally toward higher projected targets.
Market Trends and Technical Analysis
AVAX had previously experienced a sharp downtrend before stabilizing and forming a reversal structure. The price bounced back strongly, breaking key resistance levels and forming an ascending trajectory.
Javon Marks’ breakdown shows AVAX bursting above resistance, setting off a rally that peaked at $79.18. The market retreated afterward, testing historical support before consolidating. Fibonacci extensions place the next critical price point at $126.03, suggesting upside gains of over 450%.
Source: Javon Marks
Javon Marks pointed out that AVAX was in a breakout-retest pattern, and pullbacks have confirmed strong accumulation. The recent price action depicts consolidation in a range, reaffirming the potential for long-term bullish momentum.
Further Insights and Key Findings
Javon Marks pointed out that AVAX was still holding key support, reducing the chances of further corrections. The consolidating phase suggests an imminent breakout, which is consistent with previous technical trends.
He noted that Fibonacci levels align with the price expectations of AVAX, providing additional strength to the possibility of continued upward momentum. The structural integrity of the market remains intact, supporting additional price increases.
Javon Marks confirmed that volume dynamics play a crucial role in sustaining bullish momentum. Increased buying pressure can validate the breakout and accelerate AVAX’s price increase.
According to him, the present market setup is accumulation, and past trends have shown the same formations that lead to price explosions. The structure remains consistent with previous breakout patterns, furthering the bullish forecast.
He emphasized that AVAX still has a strong technical positioning, and buyers remain in charge at important levels. If the price remains above support, traders can anticipate a long rally, potentially towards the forecast targets with significant upside potential.