Log in

Technical Analysis

AVAX technical analysis: Will $31 break signal $65 upside?

Published: Oct 21, 2024
0
Share:

AVAX tests $31 neckline resistance. Will it reach $65 next? Explore the technical indicators and market sentiment driving its price movement this cycle.

Post Feature Image

Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.


Market context

AVAX has been one of the strong performers this cycle, with a notable 630% move from the lows before October's run. Although it hasn't been as explosive as some meme coins, its price action has been solid, showing aggressive buying during periods of upside momentum. The recent consolidation phase is correlated with the overall market, so the bearish price action isn't necessarily negative.

3. AVAX-USDT weekly chart showing price consolidation, key resistance levels, historical price movement, and RSI indicator at current support levels.

Looking at the chart, we've identified an inverted pattern of head and shoulders. The left shoulder, head, and right shoulder are clearly formed, and what's interesting is that the right shoulder has been bid higher than the left. This tells us that buyers are willing to pay more for AVAX now than they were back in July, which is a good sign.

We traded into the neckline on September 23rd, using it as resistance, which is key. If we break above that $31 neckline, we could see a strong flip in sentiment, signaling a potential for more upside. Historically, around this level, AVAX has shown bullish price action, particularly in April and January.

Attempts to push the price lower were met with immediate buying pressure. If we get back above the $31 level, it could reignite bullish momentum. A move from $31 to $65, the high printed in March, would represent a 100% profit.

4. Daily chart of AVAX-USDT depicting buying pressure, resistance levels, potential breakout targets, and projected price movement trajectory towards higher levels.

Playbook

For holders of AVAX, many of whom are members, bidding around the buying pressure box, as shown on the charts, could be a strong play. The head and shoulders pattern is lining up nicely with the potential break of the $31 neckline, opening up further upside toward $65. Beyond that, a move to $100 is possible if market momentum continues.

Key levels

  • $31 (neckline resistance)
  • $65 (next target for 100% upside)
  • $100 (potential higher target if momentum persists)

Cryptonary's take

AVAX isn't an asset we're currently invested in, but it's shown significant strength this cycle and has a large, engaged community. The inverted head and shoulders pattern we're seeing aligns with the broader Total3 market cap's inverted head and shoulders, suggesting that alts, particularly the stronger ones, could be forming a bottom.

This also ties into the overall sentiment with the upcoming elections and Trump potentially leading the race, which could serve as a bullish catalyst going forward. If you're an AVAX holder, front-running the potential neckline break around $31 could be a good move in this current environment.

100% Success Money Back Guarantee

If our approach doesn’t outperform the overall crypto market during your subscription, we’ll give you a full refund of your membership. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.

Terms & Conditions apply

Star

Trusted by 300,000+ traders

Take your next step towards crypto success

Save 50%

$799/year

Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.

VisaCardImageMsCardImageCoinbaseCardImageSolanaCardImage

For your security, all orders are processed on a secured server.

What’s included in Pro:

  • Success Guarantee, if we don’t outperform the market, you get 100% back, no questions asked

  • 24/7 access to experts with 50+ years’ experience

  • All of our top token picks for 2025

  • Our latest memecoins pick with 50X potential

  • On hand technical analysis on any token of your choice

  • Weekly livestreams & ask us anything with the team

  • Daily insights on Macro, Mechanics, and On-chain

  • Curated list of top upcoming airdrops (free money)

Our track record speaks for itself

With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.

/images/advertorial/corpcomm3.webp
/images/advertorial/corpcomm4.webp
/images/advertorial/corpcomm5.webp

Frequently Asked Questions

Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.

No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.

Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.

We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.

Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.

Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.

If our approach to the market doesn’t beat the overall crypto market during your subscription, we’ll give you a full refund of your membership fee. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.

Recommended from Cryptonary
This Week's Setup: 27th of October
Market Updates
This Week's Setup: 27th of OctoberIt’s a big week in markets, and you don’t want to miss what’s coming. The Fed meets, Trump and Xi ar...
7 min read
Oct 27, 2025
BTC, ETH and More: Breakouts Loom on Pennants, Key Levels Ahead
PRO
Market Direction
BTC, ETH and More: Breakouts Loom o...The market is coiling in pennants after the inflation beat. All eyes on major resistance and breakdo...
6 min read
Oct 24, 2025
Market Pulse: Softer Inflation Fuels Fed Cut Hopes
PRO
Market Pulse
Market Pulse: Softer Inflation Fuel...Inflation surprised to the downside, easing Fed pressure and sparking rebounds in both TradFi and BT...
3 min read
Oct 24, 2025