- AVAX price nears a critical support level, aligning with Fibonacci retracement zones, signaling a possible reversal.
- A weekly close above $30 could confirm bullish momentum, pushing AVAX toward $43.84, $58.06, and $80.03.
- AVAX faced resistance at $24.81 after rebounding from $23.41, with the next key level set at $30.70.
Avalanche is now near a critical support point in correspondence to the weekly chart, which has marked important Fibonacci retracement zones. The price movement is quite suggestive of a change in motion and key levels as the pointers to the next possible route. This level could lead to a massive bounce towards higher desired price levels of $43.84, $58.06, and $80.03.
AVAX Testing Key Support Zone
AVAX is currently testing a crucial support range that coincides with Fibonacci retracement levels. This area has historically influenced price movements, making it a critical point for traders. If the price remains stable at this level, a reversal could follow, signaling renewed strength in the market.
According to Rose Premium Signals analysis, The price dropped to a key support zone near $23.41 before rebounding slightly.
Fibonacci retracement levels indicate $30.70 as a resistance level. The chart suggests potential upside targets at $58.06 and $80.03. The current price is around $20.30, with a recent rejection near $24.81. A price recovery could follow if the support holds.
Weekly Close Above $30 Could Boost Momentum
Market data shows that a weekly close above $30 may act as a trigger for further gains. A sustained move beyond this level could reinforce bullish sentiment, potentially accelerating price action toward higher targets. The strength of this support zone will be key in determining the next phase for AVAX.
Based on the analysis of technical indicators, the medium-term targets are $43.84, $58.06, and $80.03. They are in sync with the previous resistance levels when it comes to possible price reactions. Going above $30 will create the possibility for the asset to continue the upward movement.
