💥 Avalanche (AVAX) Showing Early Signs of High-Timeframe Reversal
After a brutal 95%+ drawdown from its 2021 peak, AVAX is forming a potential macro reversal structure. Weekly charts indicate the completion of Wave 1 near $5.67, with price now entering the early Wave 2 recovery phase.
Key Technical Highlights:
Stabilizing within the $5–$8 macro support zone.
Trading inside the long-term descending channel from 2021.
Weekly liquidity sweep into demand zone ($7–$8) mirrors prior cycle compression.
Retesting lower trendline, classic deviation setup signaling potential inflection.
✅ Next Steps for Confirmation: Sustained weekly strength and a push toward mid-channel resistance would reinforce the bullish Wave 2 thesis and signal a broader recovery in the cycle.