The analysis focuses on the AVAXUSD chart. The price is currently in a rally and holding up better than other cryptocurrency charts but the chart is not great overall. The price reacted to the bull market support area around March, April, and June this year. The price may be breaking out on a local level. Two main scenarios are being tracked on the daily chart. The first one is the orange scenario, in which the chart is working on an ABC structure where the C-wave should be five waves up. In this scenario, the nearest support area is estimated between $25.55 and $29.