A Bearish Harmonic Pattern
On AVAX daily chart, we can observe the formation of a bearish ABCD harmonic pattern. Despite its bearish label, this type of configuration often results in a strong rally during the CD leg before reaching the final target.
The movement began with a rise from point A near $17.68 to point B, followed by a corrective decline to point C around $20.64. From there, buyers regained control, driving prices up to the current zone of $25.15, indicating that the CD leg is already in motion.
A Push Toward the Potential Reversal Zone
If the bullish momentum continues and Bitcoin‘s rise keeps stimulating the broader market, AVAX could head toward the potential reversal zone (PRZ) around $30.30. This zone will be critical, as historically, harmonic patterns often encounter strong resistance here, triggering either consolidation or a short-term pullback.
Nevertheless, the upside potential remains significant, representing approximately 20% from current levels. Seasoned crypto investors will closely monitor AVAX’s evolution in the coming weeks, as this altcoin could well be one of the best opportunities in the market right now.
How to Buy AVAX on Bitget
Want to invest in Avalanche (AVAX) via Bitget ? Here are the steps to complete your purchase quickly and securely :
- Create an account on Bitget with your email address, then complete identity verification (KYC) to unlock all platform features.
- Deposit funds into your account by choosing the option that suits you: credit card, bank transfer, or cryptocurrency transfer from another exchange.
- Search for the AVAX/USDT pair in the Spot or Futures section, depending on your trading style.
- Place a buy order by selecting the order type that matches your strategy: market, limit, or futures contract.
- Confirm the transaction, and your AVAX will be automatically credited to your Bitget wallet.
Before diving in, take time to examine market trends to maximize your chances of success.
