Structural Resistance Cleared in London Session

$AVAX has reclaimed the $6.67 resistance level on the 4H timeframe, a move that carries technical weight given the volume context. The current price of $6.82 sits just below the immediate next structural resistance at $6.83. This breakout suggests bullish structure - price respecting support zones and pushing higher - but it's also a narrow margin between current levels and the next barrier. The 24h volume of $247M provides reasonable liquidity to test this move further.

What $6.67 Represented and Price Path

The $6.67 level functioned as a supply zone - a price level where prior selling activity had created resistance. Breaking above it on volume (or sufficient liquidity) indicates absorption of that prior resistance. The path to $6.82 was likely driven by intraday buyers willing to push through that friction point. This is how structural breakouts work: price tests, supply clears, and momentum carries to the next defined level. The 5.90% 24h rally places this move in the upper half of normal daily range for $AVAX, but not extreme - a steady reclamation rather than a spike.

Key Levels to Monitor Next

The immediate target is $6.83 - a structural resistance point that, if broken, could open towards higher resistance zones. Below the current action, $6.67 becomes a support level to defend; a close below that price would negate the breakout and suggest the move was momentum-driven rather than structural. Traders using Fibonacci extensions or prior swing highs would have confluence zones above $6.83 - those would define the next meaningful resistance. RSI and MACD momentum on the 4H should confirm whether this breakout has follow-through; overbought readings early could signal potential pullback into support before the next leg.

Social Context and Risk Framing