The video analyzes the AVAX/USD chart, noting a current rally and comparing its performance favorably against other cryptocurrencies, though overall, the chart's condition is deemed less than ideal. The price reacted to the bull market support area around $16.74 to $20.58, a zone active since August of the previous year. The current price hovers around $33.98, having reached the 100% extension target. Resistance levels are identified between $35.88 and $50.57. A trendline is observed, potentially providing further resistance. Two scenarios are tracked: the orange scenario involves an ABC structure with a five-wave upward C wave, supported by $25.55 to $29 as support. A decisive break above the yellow trendline around $47.50 is crucial for a rally towards $110 or higher. Maintaining levels above $25.55 in the short term is important to prevent deeper pullbacks.