Avalanche $AVAX chart update.
Wave (4) is nearly complete around $28–29. If correct, Wave (5) is next, targeting $45–50.
Here’s the breakdown.
Elliott Wave traders know this:
Wave (4) corrections shake out weak hands.
Wave (5) is where the real upside comes.
We may be at that pivot right now.
Wave (1): Early impulse off the lows
Wave (2): Deep retrace to reset
Wave (3): Strongest move, breaking resistance
Wave (4): Pullback into support, now near completion
Wave (5): Projected extension into $45–50
Invalidation is key.
If $AVAX loses $25 with conviction, the count is in question.
Above $28, the risk/reward remains heavily skewed to the upside.
Most traders exit too early in Wave (4).
Smart money waits for the spring into Wave (5).
Where do you think $AVAX tops out this cycle; $40, $50, or higher?
3.51K
17
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.