AVAXUSDT: Is a Major Reversal in Sight?

٣٠ أغسطسYello Paradisers! Are we on the verge of a significant breakout, or could a sharp reversal be just around the corner? Let’s dive into the #AVAXUSDT analysis.

💎#AVAXUSDT has been riding an uptrend over the past few days, finding solid footing on an ascending support line. This support has been tested multiple times, and each time, AVAX has rebounded, signaling strong buyer interest. Most recently, the pair dipped and tapped into this crucial ascending support, which also coincides with a previous resistance level that has now flipped to support.

💎Currently, there’s a high probability that AVAX could continue its upward movement, but the road ahead isn't without obstacles. The pair will soon face resistance levels that could challenge this uptrend.

💎However, if the ascending support fails to hold, the next key level to watch is the 0.618-0.66 Fibonacci retracement zone, which falls between $21.44 and $20.94. This area could act as a strong support, potentially propelling AVAX toward the minor resistance at $24.71. Beyond this, significant resistance levels are spotted at $27.22 and $30.22, provided the volume remains strong.

💎Keep in mind, our bullish outlook will be invalidated if we see a candle close below the $19.74 support zone. In that case, we could be looking at a more prolonged downturn.

Stay vigilant and trade smart Paradisers! Consistency and discipline are your best tools in navigating these volatile markets.

Strive for consistency Paradisers, not quick profits. Treat the market as a businessman, not as a gambler.

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