Avalanche (AVAXUSD) has been trading within a Channel Up since the October 19 2023 Low and at the moment is halfway through its 2nd Bullish Leg of the sequence. So far it has been replicating to a fair extent the previous Leg, trading above the 1D MA50 (blue trend-line), which shouldn't be touched again before the next peak.
If it continues to repeat the sequence, then we can see $155 as a peak (Higher High), since the previous leg topped at around +470% from the bottom. We take a more conservative target however, aiming for the April 02 2022 High at $104.
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AVAX just broke down and is now testing resistance.like BTC testing resistance now 60k will not hold that it will go to 50k.
Rey_Mezcalero
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@simpsonepic1a I’m expecting the same. BTC is under selling pressure and tending down. It’s going to weigh down all crypto. Waiting on the sidelines for the price to drop more and stabilize.