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.
ملاحظة
Next Major Resistance areas:$100
$110
$125
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.