AVAX Analysis (Patterns, price action and indicators)
Disclaimer
This technical analysis by no means, is a financial advice, Please do you own research.
The is a minor support in range of $70.51- $73.31 that if it breaks, we should monitor the middle of the trend line( I did not considered the ATH candle in my trend line as it was an emotional candle with high volume). Using Volume profile, it shows market has interest to trade $60-$70 which increase the chance of uptrend after a possible correction. Point of control has a correlation with our basis Donchain line.
If price drops from the parallel channel, it is likely that major support arear around $61 change the direction of the price.
As long as price does not fall below $50.96, trend is upward, unless it will form a double top pattern which is a bearish pattern (Less Likely to happen)
RSI+ and LMACD are showing a little bit of weakness as AVAX had a new ATH. With all these major demand and strong fundamental, it is mostly expected to be bullish and AVAX sees a new ATH.
Please share you thoughts on my analysis.
This technical analysis by no means, is a financial advice, Please do you own research.
The is a minor support in range of $70.51- $73.31 that if it breaks, we should monitor the middle of the trend line( I did not considered the ATH candle in my trend line as it was an emotional candle with high volume). Using Volume profile, it shows market has interest to trade $60-$70 which increase the chance of uptrend after a possible correction. Point of control has a correlation with our basis Donchain line.
If price drops from the parallel channel, it is likely that major support arear around $61 change the direction of the price.
As long as price does not fall below $50.96, trend is upward, unless it will form a double top pattern which is a bearish pattern (Less Likely to happen)
RSI+ and LMACD are showing a little bit of weakness as AVAX had a new ATH. With all these major demand and strong fundamental, it is mostly expected to be bullish and AVAX sees a new ATH.
Please share you thoughts on my analysis.
Uwaga
Next Major Resistance areas:$100
$110
$125
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Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.