AVAX is coiling inside a massive multi-year symmetrical triangle on the weekly chart. This is a textbook structure where volatility contracts before an explosive move, and the setup looks nearly complete!🔹 Entry Zone: Highlighted accumulation zone around CMP- $17
🔹 Breakout Target: If AVAX breaks out, we could see a move toward $147 (a whopping +550%)
🔹 Resistance to Watch: $45-$50 range – historical supply zone
🔹 Support: The Ascending trendline from 2021 continues to act as a strong base
Fundamentals Behind the Chart:
Avalanche (AVAX) is one of the fastest smart contract platforms in terms of time-to-finality. It supports Subnets (custom blockchains), which are gaining traction for scalable enterprise and gaming solutions. With growing DeFi and NFT adoption on Avalanche, fundamentals are aligning with this technical setup.
If this breakout holds, AVAX might become one of the best large-cap performers in the next cycle.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.