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Avalanche (AVAX) Confirms Major Breakout as Experts Target Up to $282
By: cryptosheadlines|2025/05/16 19:30:09
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Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com AVAX confirms breakout from a multi-year triangle, with strong support at $20 and upside targets reaching up to $282.A confirmed double retest near $20 reinforces the breakout structure, pointing to renewed momentum and bullish continuation.A key breakout above a five-month trendline puts AVAX near resistance at $26.09, with support levels holding at $21.80 and $21.28.Avalanche (AVAX) is displaying a confirmed bullish structure after breaking key trendlines across multiple timeframes. Analysts are watching its price closely as it tests major support and resistance zones for further confirmation.Long-Term Setup Shows Confirmed Breakout and ReaccumulationAVAX recently exited a symmetrical triangle that held its price action for over three years. The breakout has triggered renewed interest among traders who believe AVAX is entering a fresh accumulation stage. Technical confirmations from multiple angles suggest a developing trend shift with bullish momentum.One key expert tracking this setup is Crypto Patel, who has provided additional insights on the weekly chart. According to him, AVAX broke out of a falling wedge pattern with strong follow-through. He noted that after the breakout, price retested the $20 level twice, confirming its structural integrity.Source: Crypto PatelThis analysis highlights an active accumulation zone between $17 and $25, which has held firm during recent pullbacks. He also pointed out that the symmetrical triangle spans from 2021 to 2025, featuring three major peaks and lows. The latest bounce from $17 marked Retest 2, adding strength to the reversal signal.Crypto Patel identified four price targets: $50.03, $100.00, $146.18, and $282.48. These levels align with historical highs and Fibonacci extensions. The projected gain from the current $24 level to TP4 stands at over 1,140%.He emphasized that price has remained above the breakout level and is now pushing toward the upper triangle zone. Volume has supported the recent surge, signaling strong market participation. As long as AVAX trades above $20, its outlook remains bullish.Daily Chart Hints at Early Breakout MomentumAssad Tannous has offered additional insights focusing on shorter-term price movements and support levels. This analysis shows AVAX breaking above a descending trendline that originated in December 2024. This move suggests a trend reversal is underway.Source: Assad TannousThe analyst observed that the AVAX price is currently hovering near $24.53, slightly below the 200-day moving average. The 50-day average is converging with price, which may trigger a golden cross soon. However, the $26.09 resistance remains a critical zone to watch.According to the chart, price now trades above a descending channel that defines recent downtrend phases. Tannous noted two key support levels at $21.80 and $21.28, both of which held during consolidation. If momentum holds, AVAX could continue its climb from this recovery base.Source link
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