AVAX Avalanche: 1D Chart Review

Hello friends, today you can review the technical analysis on a 1D linear scale chart for Avalanche (AVAXUSD), a cryptocurrency.

Quick Analysis:

1) The price has been respecting a multi-month parallel channel it formed in early 2021.
2) Since August 2021, the price has been supported by a trendline, which it is hovering above/below over the past few days.
3) If the price does not come back above the support trendline, keep an eye on the lower trendline of the parallel channel.
4) The RSI (relative strength index) has formed a multi-month bearish divergence.
5) Volume has reduced over the past few days compared to the past few months.

What are your opinions on this?

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Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk

Comment:

BTC will help give an indication of where the price may be headed. Keep an eye on BTC.

Comment:

nicely predicted!

Comment:

pattern still in play!