AVAX 8H – Rising Trendline Recovery Inside Descending ChannelAVAX / TetherUSBINANCE:AVAXUSDTBKVIPAVAX on the 8H timeframe is currently trading around 10.150 after bottoming near 5.740 in mid-June and recovering steadily along a rising trendline, with price now pressing into the 6.800–6.900 horizontal resistance zone that has capped multiple attempts since the low. The chart shows a descending channel from the May high near 10.600, with the upper trendline connecting lower highs from mid-May through the late May rejection near 9.400 and continuing to slope down into the 7.200–7.300 area currently. Price accelerated lower through late May and early June, dropping sharply from the 9.000 area into a low near 5.740 in mid-June before a rising trendline formed off that low, connecting higher lows through late June and into early July. This rising trendline is now climbing into the 6.200–6.300 zone and has been the backbone of the recovery. The horizontal level near 6.800–6.900 has acted as a consistent ceiling since the June low, with multiple attempts to break above it failing and price returning to the rising trendline each time before bouncing again. Price is now making another attempt at the 6.800–6.900 resistance after holding the rising trendline, with the descending upper channel trendline sitting significantly overhead near 7.200–7.300 and adding a second layer of resistance above. Key Levels To Watch → 10.400–10.600 – May high, major resistance above → 9.200–9.400 – Prior consolidation zone, upper channel resistance → 8.000–8.200 – Mid-channel resistance zone → 7.200–7.300 – Descending upper trendline, overhead resistance (dynamic) → 6.800–6.900 – Horizontal resistance, current test → 6.200–6.300 – Rising trendline support, dynamic (climbing) → 5.740 – June low, lower channel boundary A confirmed break above 6.800–6.900 would clear the immediate ceiling and bring the descending upper channel trendline near 7.200–7.300 into play, with a break above that level marking a significant structural shift and opening recovery toward 8.000–8.200 and above. A rejection at 6.800–6.900 and a pullback toward the rising trendline near 6.200–6.300 would keep the recovery range intact as long as the trendline holds, but a confirmed break below it would remove the only upward structure built since the June low and expose price to a retest of 5.740. Rising trendline recovery pressing into key horizontal resistance for another test. Break above 6.800–6.900 → channel trendline next, structural shift opens toward 7.200–7.300 and 8.000. Reject and lose rising trendline near 6.200 → recovery structure gone, retest of 5.740 open. Bias cautiously bullish above rising trendline. Shift bearish only on confirmed close below 6.200–6.300.