- AVAX is near a critical support zone and may start a new upward trend.
- A breakout above 0.000429 BTC could confirm bullish momentum and higher targets.
- If BTC stays at $12K AVAX may reach $816 if it follows its current price path.
Avalanche (AVAX) against Bitcoin (BTC) is showing signs of a potential breakout as it approaches the final stages of a corrective Elliott Wave structure. The price action on the AVAX/BTC weekly chart suggests that the token is at a critical juncture, currently trading at 0.0002708 BTC, marking a 5.04% increase in the latest session.
With Bitcoin priced at $12,000, the projected target for AVAX at the next key resistance would translate to a valuation of approximately $816. The long-term descending wedge structure indicates that AVAX may be setting up for a significant reversal if current price levels hold.
Elliott Wave Analysis Suggests Potential Uptrend
The Elliott Wave count highlights a three-wave corrective pattern (ABC correction) that appears to be completing its final leg near strong historical support. Wave (C) has reached a critical low, aligning with previous cycle bottoms. This setup suggests that AVAX could be preparing for a new impulse wave (Wave 1 of a bullish cycle).
Additionally, Fibonacci retracement levels confirm that the 0.618 retracement level at 0.001879 BTC has historically acted as a key resistance zone. If the pattern follows historical fractals, a break beyond this level would signal a potential bullish reversal, with an extended move toward 0.006868 BTC in a full expansion.
Key Price Levels and Resistance Targets
The current price structure shows that AVAX is trading within a descending wedge, typically a bullish reversal pattern when confirmed by volume expansion. Immediate resistance stands at 0.000429 BTC, aligning with previous supply zones where sellers have historically taken control.
Beyond this, a key breakout level is observed at 0.000873 BTC, which coincides with the 1.272 Fibonacci extension. Should AVAX successfully clear these resistance levels, the 0.001266 BTC zone will be the next major price objective before targeting the cycle peak of 0.006868 BTC.
What’s Next for AVAX/BTC?
The coming weeks will be critical as AVAX looks to establish a firm reversal. A breakout above 0.000429 BTC would strengthen the bullish case, while failure to sustain current support could lead to further consolidation within the wedge.
If Bitcoin continues to trade at $12,000, the projected price equivalence of $816 per AVAX remains a strong possibility should the breakout scenario play out. Traders should closely watch key levels for confirmation, as AVAX may soon enter a high-momentum phase if the reversal structure holds.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed