Structure Reclaimed in the Asia-London Overlap

$AVAX broke through its nearest resistance at $6.68 on the 4H timeframe and is now trading near $6.70 as of the latest session data. The move represents a clean reclaim of a key structural level that had acted as resistance in prior trading periods. With 24-hour volume at $231M and a +5.72% daily move, the breakout carries conviction without extreme outlier volume - typical of a disciplined institutional or algo-driven move rather than retail euphoria.

The path to $6.68 required $AVAX to hold support at lower Fibonacci levels and consolidate through the $6.50 - $6.65 zone. This consolidation pattern (a narrow-range accumulation) is a textbook setup for directional moves. The breakout from this range has now shifted the near-term structure toward higher resistance.

Next Resistance: The $7.04 Level

The immediate structural target is $7.04. This level represents a prior swing high and confluence zone on the daily chart where price has met resistance in recent weeks. The distance from current levels ($6.70) to $7.04 is approximately 5.1%, a reasonable intraday target without explosive price action. Watch how price handles $6.85 - $6.90 as an intermediate resistance zone on the way up; if rejected there, it signals profit-taking rather than structural breakdown.

On the 4H chart, RSI is in rising momentum territory (likely in the 55-65 range given the +5.72% daily move), indicating room for additional upside without immediate overbought conditions at traditional levels (>70). MACD on the 4H should show positive histogram expansion if momentum is authentic.

Support Levels Below Current Price

If $AVAX fails to sustain above $6.70, the first support lies at $6.68 (the level just reclaimed). Below that, $6.55 - $6.60 becomes the secondary support zone, representing the upper band of the prior consolidation. A break below $6.55 would negate the bullish breakout and risk a re-test of $6.40 as a tertiary support point.