The analysis suggests AVAXUSD is in a potential uptrend, having reached a key resistance zone between $14.47 and $17.50. A successful breakout above this zone, confirmed by a five-wave structure and a subsequent pullback to the $12.89 support level, could signal further upside potential. The current price action shows a potential inverse head and shoulders pattern, and a break above the neckline could confirm a bullish reversal.