AVAX Price Eyes $147 as Elliott Wave Setup Signals Macro Bottom

Key Insights:

• AVAX price completed a 95% correction near the $5.67 macro support.
• A bullish structure holds as long as the price remains above $5.50 weekly.
• Avalanche Elliott Wave roadmap has targets of $33, $58, $97, and $147.

Avalanche price has received little attention in the past few months, as faster-moving tokens claim the headlines. However, AVAX now trades near a long-term structural zone, which technical analysts deem important. Quiet markets often form near turning points, which gives the current setup added significance.

A recent weekly analysis by Crypto Patel highlighted a possible macro inflection for Avalanche. According to his chart, AVAX completed a deep correction near $5.67 after falling more than 95% from its cycle peak. That move could represent the end of a Wave 1 decline within a larger Elliott Wave pattern.

AVAX Price Weekly Structure Indicates Channel Support

Crypto Patel’s chart marked a multi-year descending channel, which has confined Avalanche prices since the 2021 high. AVAX broke below the channel before retesting the lower boundary. That retest delivered what technicians call a deviation, followed by a liquidity sweep into the $8 to $7 demand zone.

Liquidity sweeps near support levels of a structural support are often a sign of accumulation rather than a sign of panic selling. Price briefly pierced the lower boundary before stabilizing, suggesting that stronger participants may have absorbed supply. This behavior is often seen in areas near macro bottoms.

The wider channel is still intact. For the bullish thesis to remain valid, AVAX price must hold over $5.50 on a weekly closing basis. A sustained breakdown below that level would break the Wave 1 bottom scenario and reopen downside risk.

Symmetry is also involved in Patel’s outlook. The current compression is similar to a previous cycle phase preceding expansion. While repetition isn’t guaranteed, repeating structures often give useful probabilistic insight.

Elliott Wave Roadmap Points to Higher Levels

Patel’s Elliott Wave roadmap reflected upside levels as potential milestones, not guarantees. The first projected resistance is close to $33. If the price clears that level, the next zones are at $58 and $97.

A final high-time-frame target is $147 if the structure plays out fully into 2026 or 2027. Each of these levels corresponds to areas of resistance within the descending channel. That confluence reinforces the technical logic of the sequence.

From the macro bottom near $5.67 to the highest projection, the implied expansion is significant. Such asymmetric risk-reward profiles often attract long-horizon participants. However, patience is critical, as high-timeframe recoveries often occur in stages.

Pullbacks and consolidations are normal in the context of a structural reversal. Straight-line rallies are unusual on this scale. Weekly confirmation with higher lows and continued strength is required before any prolonged expansion is likely.

Avalanche Volume and Momentum Add Context

Independent observations on the charts support parts of this thesis. Momentum compression near long-term support is often preceded by volatility expansion. AVAX weekly candles show narrowing ranges, which can point to energy building for a bigger move.

Volume behavior near the lower boundary appears to be also constructive. Instead of accelerating downwards, selling pressure appears to have stabilized. That pattern is, at times, reflecting absorption by larger buyers.

Even so, confirmation is based on structure, not on speculation. A series of weekly higher lows would strengthen the recovery case. Failure to hold support would cancel out support.

Market quietness adds another dimension. AVAX has been characterized by less attention in the form of narrative over the past cycles. Very often, major reversals start during low excitement.

Crypto Patel described the current stage as an early wave 2 recovery attempt. If the thesis is true, Avalanche may be passing from accumulation to expansion. If support fails, then the macro correction would be unfinished.

Avalanche, therefore, occupies a technically significant crossroads. The $5.50 mark is the risk level, and the descending channel is the opportunity level. For now, the structure indicates a high-timeframe setup requiring patience and well-disciplined confirmations over short-term speculation.

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